Labcorp Acquires Select Assets of BioReference Health’s Diagnostics Business

Labcorp Acquires Select Assets of BioReference Health’s Diagnostics Business

Labcorp and OPKO Health announced on March 28 that they have entered into an agreement for Labcorp to acquire select assets of BioReference Health, a wholly owned subsidiary of OPKO Health. Through this transaction, Labcorp will acquire BioReference Health’s laboratory testing businesses focused on clinical diagnostics and reproductive and women’s health across the United States outside of New York and New Jersey. Also included are BioReference’s patient service centers and certain customer contracts and operating assets. The assets being acquired currently generate approximately $100 million in annual revenue, according to the original deal press release from March 28,... Read More »
Labcorp Subsidiary Dynacare Acquires Valley Medical Laboratories

Labcorp Subsidiary Dynacare Acquires Valley Medical Laboratories

Dynacare, a subsidiary of Labcorp, announced its acquisition of Kelowna, Canada-based Valley Medical Laboratories for an undisclosed price, effective April 24, 2023. Dynacare CEO Vito Ciciretto said he’s looking forward to providing a bigger range of health care services to British Columbians. Dr. Jason Doyle, Valley Medical’s medical director, said the two companies have the same culture of service, making the union a natural fit.  Valley Medical Laboratories is a series of physician-owned community laboratories that have served the Okanagan Valley since 1969. The firm worked with the British Columbia government to be the first laboratory to provide on-demand HIV testing in the... Read More »
Labcorp Expands Presence in Women’s Health

Labcorp Expands Presence in Women’s Health

The global life sciences company Labcorp has announced the acquisition of Ovia Health, a digital health platform focused exclusively on women’s health. No specific financial terms were disclosed. Although Ovia highlights its health application for individual patients that provide daily, personalized family health support and data feedback to guide them through pregnancy, the company also works with employers and health plans. For employers, Ovia offers a platform that integrates within the company’s family benefits ecosystem, offering health plan care management, fertility and family building benefits, onsite and virtual care, patient engagement programs and more. On Ovia’s website,... Read More »
CRO Deals Pile Up, and So Do the Multiples

CRO Deals Pile Up, and So Do the Multiples

After 34 announced transactions in 2017, the news that one contract research organization (CRO) bought another CRO is downright yawn-inducing. This space is undergoing rapid consolidation, no question. Before this week, those 34 deals had a combined total of approximately $20.9 billion. Add another deal, and another $950 million, and the market just got a tad smaller. Catalent, Inc. (NYSE: CTLT) announced the 35th deal in this sector on September 19. Its target, Indiana-based Cook Pharmica LLC, is a biologics-focused contract development and manufacturing organization (CDMO) with capabilities across biologics development, clinical and commercial cell culture manufacturing,... Read More »

Summer Heat Sinks Deal Making in July 2017

Deal makers took a break in July, judging by the lower deal volume and lower deal value posted in our preliminary data for the month. Compared with the previous month, deal volume dropped 20%, to 100 transactions, and deal value fell 49%, to $8.7 billion. Third quarters are typically slower for mergers and acquisitions, although there have been a few exceptions. In 2015, a record 411 deals were announced in Q3, which was 17% better than the same quarter in 2014, and 10% better than the third quarter in 2016. With little more than one month into Q3:17, we’ve logged 106 transactions. Not exactly a strong pace, but that could change. At this writing, the Senate Republicans failed to get the... Read More »