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Labcorp completes acquisition of select assets of BioReference Health's diagnostics business

Mar 28, 2024•over 1 year ago

Acquiring Company

Labcorp

Acquired Company

BioReference Health

BurlingtonElmwood ParkHealth CareMedicalBiotechnology

Description

Labcorp, a leading global life sciences company, has announced the acquisition of select assets of BioReference Health's diagnostics business. This strategic acquisition enhances Labcorp's comprehensive clinical laboratory and diagnostic services, further strengthening its ability to guide patient care and improve health outcomes.

Company Information

Company

Labcorp

Location

Burlington, North Carolina, United States

About

Labcorp (NYSE: LH) is a global leader of innovative and comprehensive laboratory services that helps doctors, hospitals, pharmaceutical companies, researchers and patients make clear and confident decisions. We provide insights and advance science to improve health and improve lives through our unparalleled diagnostics and drug development laboratory capabilities. The company's nearly 70,000 employees serve clients in approximately 100 countries, provided support for more than 75% of the new drugs and therapeutic products approved in 2024 by the FDA, and perform more than 700 million tests annually for patients around the world.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed