M&A Deal Summary

LabCorp Acquires Covance

On November 3, 2014, LabCorp acquired life science company Covance for 6.2B USD

Acquisition Highlights
  • This is LabCorp’s 15th transaction in the Life Science sector.
  • This is LabCorp’s largest (disclosed) transaction.
  • This is LabCorp’s 21st transaction in the United States.
  • This is LabCorp’s 2nd transaction in New Jersey.
Investment Fate
  • Covance was divested to a consortium of strategic buyers in 2021.

M&A Deal Summary
Date 2014-11-03
Target Covance
Sector Life Science
Buyer(s) LabCorp
Deal Type Add-on Acquisition
Deal Value 6.2B USD
Advisor(s) Goldman Sachs (Financial)
Cravath, Swaine & Moore LLP (Legal)

Target

Covance

Princeton, New Jersey, United States
website
Covance is a drug development company and a provider in nutritional analysis, is dedicated to advancing healthcare and delivering Solutions Made Real. Covance was founded in 1987 and is based in Princeton, New Jersey.

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Buyer(S) 1

Buyer

LabCorp

Burlington, North Carolina, United States

website

Category Company
Founded 1994
Sector Test/Measurement Equipment
Employees70,400
Revenue 14.9B USD (2022)
DESCRIPTION
LabCorp's corporate headquarters in downtown Burlington, North Carolina.
LabCorp's corporate headquarters in downtown Burlington, North Carolina.

LabCorp of America Holdings is a provider of medical laboratory tests and services through a national network of primary clinical laboratories and specialty testing laboratories. LabCorp was formed in 1994 and is based in Burlington, North Carolina.

DEAL STATS #
Overall 23 of 43
Sector (Life Science) 15 of 20
Type (Add-on Acquisition) 19 of 28
State (New Jersey) 2 of 4
Country (United States) 21 of 41
Year (2014) 4 of 5
Size (of disclosed) 1 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-20 LipoScience

Raleigh, North Carolina, United States

LipoScience is a diagnostic company focused on indentifying and quantifying metabolic markers associated with cardiovascular disease.

Buy $63M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-05 Bode Technology Group

Lorton, Virginia, United States

Bode Technology Group, Inc. is a provider of forensic DNA analysis, DNA collection products, and research services to law enforcement agencies, Federal and state governments, crime laboratories, and disaster management organizations in the United States and internationally.

Buy -
Mergr

Product

Company

Legal