LabCorp to Acquire US LABS
By HospiMedica staff writers
Posted on 29 Dec 2004
In a move that will broaden the company's testing services, Laboratory Corporation of America Holdings (LabCorp, Burlington, NC, USA) has agreed to acquire US Pathology Labs, Inc. (US Labs, Irvine, CA, USA) for around U.S.$155 million in cash.Posted on 29 Dec 2004
US Labs is a national anatomic pathology reference laboratory devoted to comprehensive high-quality, rapid-response cancer testing. The company provides diagnostic, prognostic, and predictive cancer testing services to hospitals, physicians' offices, and surgery centers. LabCorp is a pioneer in commercializing new diagnostic technologies and was the first in its industry to embrace genomic testing. The company offers more than 4,400 clinical assays, ranging from blood analyses, to HIV and genomic testing.
"The proposed acquisition of US Labs is a key part of LabCorp's efforts to continue to be a leading provider of anatomical pathology services, an important part of our cancer strategy,” noted Tom Mac Mahon, chairman and CEO of LabCorp. "We are also pleased the management team has agreed to continue on in their current responsibilities, as part of LabCorp.”
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