NEW YORK — Laboratory Corporation of America reported in its most recent 10-Q filing with the US Securities and Exchange Commission that it has purchased WestPac Labs’ clinical pathology business for $97.7 million. The company also announced in the filing that it has sold its Beacon Laboratory Benefit Solutions business for $13.5 million, recording a gain of $4.9 million.
Labcorp also noted that its previously announced acquisitions of the lab assets of Baystate Medical Center and Providence Medical Foundation were priced at, respectively, $116.6 million and $54.9 million.
Additionally, Labcorp said this week that it has entered into a three-year $300 million accounts receivable securitization facility with PNC Bank, National Association as administrative agent. The facility allows Labcorp to draw up to a total of $300 million and includes an accordion to increase the facility limit up to $700 million subject to the satisfaction of certain conditions.
Siemens Healthineers said this week that it is acquiring the molecular imaging business of Novartis company Advanced Accelerator Applications in a €200 million deal. The acquisition is expected to close in Q4 2024, subject to customary regulatory and works council consultation processes. Novartis said that the agreement applies to AAA's fluorine-19 positron emission tomography imaging business, and Siemens said that the acquisition includes the business's manufacturing and distribution network, workforce, product portfolio, and relationships with radioligand imaging developers. Siemens said the deal will help it to expand its footprint in the European market, improve its service to global customers, and gain capabilities in clinical pathways for cancers and neurodegenerative diseases.
Quest Diagnostics reported in its most recent 10-Q filing with the US Securities and Exchange Commission that the price of its previously announced acquisition of select assets of PathAI Diagnostics was $100 million.
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