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 Interior Health region in 2016.
Dynacare is a Toronto-based provider of clinical laboratory testing services intended to serve the healthcare sector. It provides information to doctors, hospitals, pharmaceutical companies, researchers and patients. The company reported revenue of $14.9 billion in 2022.
According to data captured in the LevinPro HC database, this represents the 41st Laboratories, MRI and Dialysis transaction of 2023. By comparison, there were 46 Laboratories, MRI and Dialysis deals reported between January 1, 2022, and April 24, 2022.
