Laboratory Corporation of America, Burlington, N.C., the nation’s second-largest clinical lab operator, will acquire Dynacare, Dallas, for about $480 million and the assumption of $205 million in Dynacare debt. LabCorp officials said that by year-end 2004 they expect to save $45 million annually as a result of the deal. The transaction requires shareholder and regulatory approval in the U.S. and Canada and is expected to close at the end of June. Credit-rating agency Standard & Poor’s said LabCorp will gain a profitable and stable laboratory business in Canada, where Dynacare operates, and LabCorp will at the same time get an opportunity to make its U.S. operations more efficient.
LabCorp to acquire competing lab operator
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