M&A Deal Summary

LabCorp Acquires PGDx

On December 23, 2021, LabCorp acquired healthcare services company PGDx for 575M USD

Acquisition Highlights
  • This is LabCorp’s 10th transaction in the Healthcare Services sector.
  • This is LabCorp’s 5th largest (disclosed) transaction.
  • This is LabCorp’s 38th transaction in the United States.
  • This is LabCorp’s 1st transaction in Maryland.

M&A Deal Summary
Date 2021-12-23
Target PGDx
Sector Healthcare Services
Buyer(s) LabCorp
Deal Type Add-on Acquisition
Deal Value 575M USD
Advisor(s) Cowen Group, Inc. (Financial)
Cooley (Legal)

Target

PGDx

Baltimore, Maryland, United States
PGDx has empowered the fight against cancer by unlocking actionable information from the genome to drive biomarker-informed treatment plans. The PGDx elio portfolio of tissue-based and liquid biopsy comprehensive genomic solutions enables personalized care for all patients by bringing precision oncology testing to where they are. It was established by researchers from Johns Hopkins University who are pioneers in cancer genome sequencing and liquid biopsy technologies. PGDx was formed in 2010 and is based in Baltimore, Maryland.

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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 40 of 44
Sector (Healthcare Services) 10 of 13
Type (Add-on Acquisition) 28 of 28
State (Maryland) 1 of 1
Country (United States) 38 of 42
Year (2021) 4 of 4
Size (of disclosed) 5 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-18 Toxikon

Bedford, Massachusetts, United States

Toxikon is a preclinical contract research organization (CRO) providing in vivo, in vitro, and analytical testing services for the pharmaceutical, biotechnology, and medical device industries worldwide, helping those companies gain approval for their products quickly and bring them to market successfully. Toxikon was founded in 1977 and is based in Bedford, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-09 AtlantiCare - Diagnostic Clinical Laboratory Services

Atlantic City, New Jersey, United States

AtlantiCare’s clinical outreach business serves the AtlantiCare Physician Group and Affiliated Physicians and their patients across southern New Jersey.

Buy -
Mergr

Product

Company

Legal