M&A Deal Summary

LabCorp Acquires Pathology Associates Medical Laboratories

On February 23, 2017, LabCorp acquired healthcare services company Pathology Associates Medical Laboratories from Providence Health & Services and Catholic Health Initiatives

Acquisition Highlights
  • This is LabCorp’s 8th transaction in the Healthcare Services sector.
  • This is LabCorp’s 30th transaction in the United States.
  • This is LabCorp’s 2nd transaction in Washington.

M&A Deal Summary
Date 2017-02-23
Target Pathology Associates Medical Laboratories
Sector Healthcare Services
Buyer(s) LabCorp
Sellers(s) Providence Health & Services
Catholic Health Initiatives
Deal Type Divestiture

Target

Pathology Associates Medical Laboratories

Spokane, Washington, United States
Pathology Associates Medical Laboratories LLC is an owns and operator of a state-of-the-art, full-service reference laboratory and maintains other laboratory operations throughout the western United States.

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Buyer(S) 1

Buyer

LabCorp

Burlington, North Carolina, United States
Category Company
Sector Test/Measurement Equipment
Employees67,000
Revenue 12.2B USD (2023)
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 is based in Burlington, North Carolina.

DEAL STATS #
Overall 32 of 44
Sector (Healthcare Services) 8 of 13
Type (Divestiture) 9 of 15
State (Washington) 2 of 2
Country (United States) 30 of 42
Year (2017) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-10 Mount Sinai - Clinical Outreach Laboratories

United States

Mount Sinai - Clinical Outreach Laboratories is a provider of laboratory testing for patients registered at its hospitals and ambulatory facilities as inpatients or outpatients, as well as laboratory testing services for physicians in their professional practices in the areas of anatomic pathology, molecular pathology and genetics.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-31 Chiltern International

Bristol, Tennessee, United States

Chiltern International, Inc. is a global contract research organization, and a provider of clinical services and solutions in a variety of therapeutic areas with engagement models for biopharmaceutical and medical device industries. Chiltern’s team of more than 4,500, located across 47 countries, provides comprehensive Clinical Development, Medical & Scientific Affairs, Data & Analysis, Pharmacovigilance and Strategic Regulatory services using a collaborative approach for more efficient clinical trials. Visit Chiltern.com to learn more about how Chiltern is Designed Around You®.

Buy $1.2B

Seller(S) 2

SELLER

Providence Health & Services

Renton, Washington, United States
Category Company
Founded 1859
Sector Healthcare Services
Employees68,706
DESCRIPTION

Providence Health & Services is a provider of healthcare services.

DEAL STATS #
Overall 1 of 2
Sector (Healthcare Services) 1 of 2
Type (Divestiture) 1 of 1
State (Washington) 1 of 1
Country (United States) 1 of 2
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-01 Swedish Health Services

Seattle, Washington, United States

Swedish Health Services, Inc. is owns and operates hospitals in Seattle, Edmonds, and Issaquah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-11 Lumedic

Seattle, Washington, United States

Lumedic is a Seattle-based healthcare technology company transforming revenue cycle management processes for modern payers and providers. From eligibility to pre-authorization to billing, Lumedic offers an end-to-end platform and intelligent network built on blockchain technology that embraces patient, payer, and provider interactions to drive more efficient operations and make smarter data-driven decisions

Buy -
SELLER

Catholic Health Initiatives

Englewood, Colorado, United States
Category Company
Sector Healthcare Services
DESCRIPTION

Catholic Health Initiatives is a national nonprofit health system. It operates in 17 states and includes 80 hospitals; 40 long-term care, assisted- and residential-living facilities; two community health-services organizations; two accredited nursing colleges; and home health agencies.

DEAL STATS #
Overall 2 of 2
Sector (Healthcare Services) 2 of 2
Type (Divestiture) 2 of 2
State (Washington) 1 of 1
Country (United States) 2 of 2
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-01 Saint Clare s Health System

Denville, New Jersey, United States

Saint Clare's Health System provides compassionate, family-centered care and is consistently among the best performing health systems in the country.

Sell -
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