LabCorp Spends $5.6 Billion to Acquire Covance, Challenging Quest Diagnostics for Position as Largest U.S. Diagnostics Company

Nov 5, 2014 | Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology, Laboratory Sales and Marketing, Management & Operations

With clinical laboratory acquisition candidates dwindling in number, Laboratory Corporation of America Holdings (LabCorp) (NYSE: LH) looked outside the medical laboratory industry and agreed to acquire Covance, Inc. (NYSE: CVD), a major player in clinical trials testing, for approximately $6.1 billion in cash and stock. By taking this action, LabCorp will have bragging rights as the world’s largest laboratory testing company. Upon completion of this transaction, financial analysts point out...
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