LabCorp to Acquire Medtox

Laboratory Corporation of America is acquiring Medtox Scientific for about $241 million, says a press release from the companies. Medtox offers clinical laboratory services including toxicology testing and bio-analytical testing for clinical trials, among other things. "This transaction highlights the fundamental value of the Medtox brand, the talent and expertise of our team and the quality of our products and testing services," says Dick Braun, the company's chairman and CEO. "As part of LabCorp with its substantial resources and infrastructure, we expect to accelerate Medtox's profitable growth and provide a stable and sustainable environment for our employees and clients."