Labcorp to acquire Invitae’s assets for $239M

MedTech Dive April 25, 2024
Susan Kelly

William Blair analyst Andrew Brackmann said Labcorp is being aggressive in its M&A strategy, after announcing last month it would buy several of Bioreference Health’s testing businesses.

Dive Brief:

• Labcorp has been selected as the winning bidder in the bankruptcy court-supervised sale of medical genetics company Invitae.
• The laboratory services giant will pay $239 million in cash to acquire most of Invitae’s assets, Invitae said in a statement late Wednesday.
• Labcorp is being aggressive in its M&A strategy, said William Blair analyst Andrew Brackmann. The acquisition comes shortly after Labcorp announced in March it would buy Bioreference Health’s laboratory testing businesses focused on clinical diagnostics and reproductive and women’s health for $237.5 million.

Dive Insight:

Labcorp said the...

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