Laboratory Corporation of America

The agreement, which covers Interpace's ThyGenX and ThyraMIR diagnostic tests for the diagnosis of thyroid cancer in patients with indeterminate thyroid nodules.

LabCorp will serve as exclusive distributor for OmniSeq's cancer assays and will participate in its Series B financing round.

The offering consists of two tranches of $600 million each, and the firm plans to use the net proceeds for general corporate purposes, including the repayment of outstanding senior notes due on Aug. 23. 

Total revenues reached $2.54 billion during the quarter, while LabCorp Diagnostics' revenues rose more than 8 percent to $1.80 billion. 

The company's diagnostics business saw 8 percent growth, while its Covance segment retreated 2 percent. The firm lowered its adjusted EPS estimate for the full year. 

The firm's diagnostics revenues grew 8 percent year over year, and it beat the consensus Wall Street estimates on the top and bottom lines. 

The bank rated companies like Thermo Fisher Scientific and Agilent at Buy, Illumina and PerkinElmer at Hold, and Myriad Genetics and Luminex at Sell.