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LabCorp acquires Sequenom for $371m

Laboratory Corporation of America Holdings (LabCorp) has completed the acquisition of Sequenom for an enterprise value of about $371m.

LabCorp has completed the offering period for the cash tender offer by its subsidiary Savoy Acquisition for all outstanding shares of common stock of Sequenom, including the associated preferred stock purchase rights.

All of the outstanding shares of Sequenom have been purchased in a cash tender offer for $2.40 per share.

LabCorp chairman and CEO David King said: “With the addition of Sequenom, LabCorp is a market leader for non-invasive prenatal testing, women’s health and reproductive genetics.

“This strategic acquisition also expands our reach both domestically and internationally and furthers our mission to improve health and improve lives around the globe.”

Sequenom, which is based in San Diego of California, is involved in the development of molecular technologies and sensitive laboratory genetic tests for non-invasive prenatal testing (NIPT) and carrier screening.

The company has developed a wide range of laboratory tests, focusing primarily on prenatal care.

Its molecular genetic tests are available under the names of HerediT, HerediT Universal, MaterniT Genome, MaterniT 21 Plus, NextView, SensiGene and VisibiliT.

These tests will provide early patient management information for obstetricians, geneticists, and maternal fetal medicine specialists.

With operations in around 60 countries, LabCorp offers clinical laboratory and end-to-end drug development services for its customers.