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LabCorp acquires Monogram Bioscicences in all-cash deal
August 2009
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BURLINGTON, N.C.Laboratory Corp. of America Holdings, also known as LabCorp, last month entered into a merger agreement and Monogram Biosciences Inc. under which LabCorp will acquire all of the outstanding shares of Monogram in a cash tender offer for $4.55 per share, for an implied total equity value of approximately $106.7 million, or a total enterprise value of approximately $155 million. David P. King, Labcorp chairman and CEO, said in a statement that Monogram Biosciences's excellent clinical reputation, market-leading infectious disease test and companion diagnostic and exciting technology platform for oncology offers LabCorp a substantial growth opportunity.

"By utilizing LabCorp's national infrastructure to build on Monogram's already strong sales, we will advance our leadership in infectious disease and cancer testing, companion diagnostics and personalized medicine. We look forward to providing improved offerings to both our and Monogram's current customers," King stated.
 

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