Burlington-based Laboratory Corporation of America Holdings (LabCorp®) (NYSE: LH), the healthcare diagnostics company, and San Diego-based Sequenom Inc. (NASDAQ: SQNM), which specializes in non-invasive prenatal testing for reproductive health, have agreed to merge.

Under the agreement, LabCorp would acquire all of the outstanding shares of Sequenom in a cash tender offer for $2.40 per share, or an equity value of $302 million, which represents a total enterprise value of approximately $371 million, including net indebtedness.

“Sequenom’s market-leading NIPT and genetic testing capabilities will advance LabCorp’s strategy to deliver world-class diagnostic solutions,” said David P. King, chairman and chief executive officer of LabCorp in a statement.

“This is exactly the kind of strategic acquisition that LabCorp seeks: Sequenom was the first laboratory to offer a clinically validated NIPT test (MaterniT®21) and has performed more than 500,000 tests to date. Sequenom’s proven best-in-class technology and strong research complement LabCorp’s extensive women’s health offering, providing patients and physicians with one source for the most complete range of testing options in women’s health, including NIPT and reproductive genetics.”

He said the merger expands LabCorp’s geographic reach domestically and internationally.