Labcorp has acquired certain laboratory assets from BioReference Health for $237.5 million, excluding assets in New York and New Jersey. This acquisition will broaden Labcorp’s testing capabilities in clinical diagnostics and reproductive women’s health, generating about $100 million in annual revenue. Labcorp, founded in 1969, reentered drug development services in 2015 through acquisition. The acquisition is part of Labcorp’s growth strategy to strengthen its scientific capabilities and expand its presence in key geographic areas. BioReference executives view the acquisition as a way to streamline operations while retaining core services. The transaction is expected to close in the second half of this year.
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Labcorp’s $237M Tuck-In Deal Brings Lab Testing Assets From BioReference Health
