Laboratory Corporation of America (NYSE: LH) is acquiring Tandem Labs, a New England-based company.

Tandem, which operates three different facilities, is a contract research organization that focuses on drug testing and development services. The company’s headquarters are in Woburn, Mass., outside Boston.

The companies did not disclose terms of the transaction. The deal is expected to close in the first quarter.

Tandem will continue to operate under its name and retain current employees and management.

"We are very pleased that Tandem Labs, a premier contract research organization specializing in advanced mass spectrometry, immunoanalytical support, pharmacokinetics, and pharmacodynamics for the pharmaceutical and biotechnology industries, is joining our clinical trials business,” said LabCorp Chief Executive Officer David King.

"The proposed acquisition of Tandem Labs further enhances our leadership position in the laboratory and drug-development industries, and solidifies LabCorp’s position as the premier laboratory in the emerging field of companion diagnostics,” he added in a statement. “Our clinical trials business, complemented by the proposed acquisition of Tandem, will continue to facilitate the discovery of drugs and laboratory tests that help patients lead better lives.”