WASHINGTON (dpa-AFX) - Labcorp Holdings Inc. (LH), a laboratory services provider, on Tuesday announced that it has acquired MLM Medical Labs, a central and specialty laboratory provider with operations across the United States, Germany, and South Africa. Financial terms of the transaction were not disclosed.
The acquisition strengthens the company's position as a leading independent provider of laboratory services for clinical research. It expands the company's presence in important research markets and improves its ability to provide biomarker and specialized testing.
The deal also expands Labcorp's laboratory network, making it the only central laboratory provider with its own laboratories across four continents: North America, Europe, Asia, and Africa.
By combining the company's global reach, scientific expertise, and infrastructure with MLM's established laboratories and science-focused services, the acquisition creates a stronger and more capable global laboratory network.
The acquisition also strengthens Labcorp's scientific and regulatory expertise and expands access to biomarker and specialized testing. These capabilities will help support more complex clinical research and drug development programs.
On the NYSE, the shares for Labcorp were trading 2.06 percent down at $320.14
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