Laboratory Corporation, a provider of diagnostic technologies to embrace genomic testing, has entered into a definitive agreement to acquire Clearstone Central Laboratories.
The agreement provides LabCorp with Clearstone’s central laboratories and clinical trials management system APOLLO CLPM, which provides clients with real-time access to automate sample stability monitoring across all lab sites.
The combined entity will have the biomarker assay portfolio with testing platforms in areas such as pharmacogenomics, microbiology, immunohistochemistry, allergy testing, cytogenetics and flow cytometry.
LabCorp chairman and CEO David King said this acquisition combines the complementary strengths of the Clearstone and LabCorp clinical trials businesses to support drug development.
"This transaction extends our service capabilities in geographies such as Asia Pacific, and advances the company’s companion diagnostics and personalized medicine strategy," King said.
Clearstone CEO Lewis Cameron said the company has already been working with LabCorp’s Esoterix division under a strategic collaboration agreement, which has resulted in a number of client success stories.