NEW YORK (GenomeWeb News) – In a deal that will strengthen Laboratory Corporation of America's companion diagnostics business, the company today announced a definitive agreement to purchase central laboratory service provider Clearstone Central Laboratories.
LabCorp said the deal will provide it with a global network of central laboratories and Clearstone's clinical trials management system Apollo CLPM, which provides real-time access to global data, strengthened chain of custody, automated sample stability monitoring, and guaranteed consistency across all lab sites.
In a statement, David King, chairman and CEO of LabCorp, added that the acquisition will extend "our global footprint and service capabilities in key geographies in Asia Pacific, and advances the company's companion diagnostics and personalized medicine strategy."
Based in Toronto, Clearstone provides central laboratory services for late-stage clinical trials.
LabCorp said that upon completion of the deal, the merged company will have the largest available biomarker assay portfolio "with globally harmonized and state-of-the-art testing platforms in areas, such as pharmacogenomics, microbiology, immunohistochemistry, allergy testing, cytogenetics, and flow cytometry."
The deal is expected to close in the second quarter. Financial and other terms were not disclosed.
The deal is the second by LabCorp this year. It currently is awaiting US regulatory approval for its proposed $85.4 million purchase of Orchid Cellmark. In September, it also acquired Genzyme Genetics for $925 million.