Burlington-based LabCorp is making another acquisition. This time the lab testing and life science services giant is buying California-based Pathology, Inc.
LabCorp (NYSE: LH) announced the deal early Thursday.
Financial terms were not disclosed.
Pathology, Inc. operates 50 centers in California as well as locations in Missouri, Oregon and Illinois, according to the firm’s website.
LabCorp calls Pathology, Inc. “a leading full-service independent women’s health laboratory, providing expertise in reproductive FDA donor testing as well as anatomic, molecular and digital pathology services.”
“Pathology, Inc. is a premier laboratory known for quality, science and innovation in women’s health testing,” said David. King, chairman and chief executive officer of LabCorp, in the announcement. “It is an excellent fit with LabCorp’s existing women’s health service offerings and supports our mission to provide world class diagnostic solutions that improve health and improve lives. In addition to Pathology, Inc.’s strategic fit, the transaction meets LabCorp’s financial criteria of being accretive to earnings in year one and earning our cost of capital by year three.”
LabCorp bought Covance in a $6 billion deal a year ago and Raleigh-based LipoScience earlier in 2014.
