LabCorp Mergers and Acquisitions Summary

Test/measurement EquipmentCompany

LabCorp has acquired 43 companies, including 8 in the last 5 years. A total of 6 acquisitions came from private equity firms. It has also divested 2 assets.

LabCorp’s largest acquisition to date was in 2014, when it acquired Covance for $6.2B. It’s largest disclosed sale occurred in 2018, when it sold Covance Food Solutions to Eurofins Scientific SE for $670M. LabCorp has acquired in 18 different US states, and 2 countries. The Company’s most targeted sectors include life science (48%) and healthcare services (29%).

Join Mergr and gain access to LabCorp’s M&A summary, the M&A summaries of companies just like it, as well as recent M&A activity in the test/measurement equipment sector.

M&A Summary

  • M&A Total Activity44
    • M&A Buy Activity42
    • M&A Sell Activity2
  • Total Sectors Invested 5
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 23
  • M&A Advisors 9

LabCorp

Laboratory Corporation of America Holdings

531 South Spring Street,
Burlington, North Carolina 27215
United States,
(844) 625-0967
www.labcorp.com

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 1971 and is based in Burlington, North Carolina.


M&A Summary

Buy vs Sell

Year ≤ '18 '19 '20 '21 '22 '23 T
Buy (1.4/yr) # 35 1 - 4 2 - 42
vol $10.5B $725M $11.2B
Sell (0.2/yr) # 1 - - 1 - - 2
vol $670M $670M
  44

Most Recent M&A

Company Date Value Type
RWJBarnabas Health - Outreach Laboratory Business 2022-08-23 - Divestiture
West Orange, New Jersey
AtlantiCare - Diagnostic Clinical Laboratory Services 2022-05-09 - Divestiture
Atlantic City, New Jersey
Personal Genome Diagnostics, Inc. 2021-12-23 575M USD Add-on Acquisition
Baltimore, Maryland · www.personalgenome.com
Toxikon Corp. 2021-11-18 - Add-on Acquisition
Bedford, Massachusetts · www.toxikon.com
Ovuline, Inc. 2021-08-12 - Add-on Acquisition
Boston, Massachusetts · www.oviahealth.com
Covance, Inc. 2021-05-20 - Divestiture
Princeton, New Jersey · www.covance.com
Myriad Autoimmune's Vectra Testing Business 2021-05-03 150M USD Divestiture
Salt Lake City, Utah
South Bend Medical Foundation - Diagnostic Clinical Laboratory Assets 2019-10-22 - Divestiture
, Indiana
Covance Food Solutions 2018-08-01 670M USD Divestiture
Livermore, California · www.covancefoodsolutions.com
Sciformix Corp. 2018-06-11 - Add-on Acquisition
Westborough, Massachusetts · www.sciformix.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Safe Foods International Holdings LLC 2015-10-23 The National Food Laboratory LLC 2015-10-23 2
Washington, District of Columbia · www.safefoodinternational.org Livermore, California · www.thenfl.com
Safe Foods International Holdings LLC 2015-10-23 International Food Network LLC 2015-10-23 1
Washington, District of Columbia · www.safefoodinternational.org Ithaca, New York · www.intlfoodnetwork.com
NWT, Inc. 2008-01-24 Tandem Labs, Inc. 2008-01-24 1
Salt Lake City, Utah Salt Lake City, Utah · www.tandemlabs.com

M&A by Sector

Sector Buy # Value Sell # Value
Life Science 20 (48%) 9.7B (87%) 1 (50%) -
Healthcare Services 12 (29%) 1.3B (11%) - -
Test/Measurement Equipment 5 (12%) 150M (1%) - -
Business Services 4 (10%) - 1 (50%) 670M (100%)
Medical Products 1 (2%) 63M (1%) - -
Total 42 $11.2B 2 $670M

By Geo

State/Country Buy Value Sell Value
United States 40 11.2B 2 670M
  California 7 526M 1 670M
  New Jersey 4 6.3B 1 -
  Massachusetts 4 925M - -
  Indiana 3 - - -
  Utah 3 150M - -
  Connecticut 2 598M - -
  Washington 2 - - -
  Texas 2 630M - -
  Tennessee 2 1.2B - -
  North Carolina 2 63M - -
  New York 2 - - -
  Minnesota 1 241M - -
  Maryland 1 575M - -
  Illinois 1 - - -
  District of Columbia 1 - - -
  Delaware 1 - - -
  Virginia 1 - - -
Canada 2 - - -
  Quebec 1 - - -
  Ontario 1 - - -
Domestic 40 (95%) 11.2B (100%) 2 (100%) 670M (100%)
Cross-border 2 (5%) - - -
Total 42 $11.2B 2 $670M

Top M&A Advisors

Financial Deals
Lazard Ltd.
2
J.P. Morgan Securities LLC
1
Bank of America Merrill Lynch (BofA Securities)
1
Legal Deals
Hogan Lovells
5
Kilpatrick Townsend & Stockton LLP
2
Sullivan & Cromwell LLP
1

Deal Values

buy # Total
> $1B 2 $7.4B
$100M to $1B 9 $3.6B
< $100M 2 $148M
TOTAL $11.2B
Largest Covance, Inc.
$6.2B (2014-11-03)
sell # Total
$100M to $1B 1 $670M
TOTAL $670M
Largest Covance Food Solutions
$670M (2018-08-01)

M&A Connections

Deals
Acquired from
Investor(s)
12%
5 (12%)
Strategic(s)
36%
15 (36%)
Divested to
Strategic(s)
100%
2 (100%)

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