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Laboratory Corporation of America

About 200,000 LabCorp patients may have had their credit card or bank information improperly accessed by the breach, which also hit 11.9 million Quest patients.

Proceeds from the loan facility will go toward the acquisition of Envigo's nonclinical research services business and other general corporate purposes.

The financing accelerates the development of the Zero Delay plasma preparation system for immediate blood plasma isolation and stabilization at the point of collection.

While the impact on participants' bottom lines remains to be seen, some lab company leaders said they expect to see other payors explore similar plans.

The firm will use the proceeds to further a validation study  tracking the ability of its cell culture assay to predict patient response to cancer therapies.

The company posted Q1 revenues of $2.79 billion, down from $2.85 billion in the same quarter last year, and below Wall Street estimates of $2.83 billion.

LabCorp will further invest in OmniSeq as part of the deal, which covers distribution of the latter's immune profiling and pan-cancer next-generation sequencing tests.

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