Burlington, N.C.-based Laboratory Corporation of America has announced that it will take over Pathology, a full-service women's health laboratory in Torrance, Calif.
David King, president and CEO of LabCorp, in a statement said that Pathology, which also does reproductive donor testing, was an excellent fit with LabCorp's mission.
LabCorp didn't disclose financial details for the deal, which includes Pathology's more than 50 patient-service centers, according to its website. Pathology will cease operations following the transaction, according to a release. The transaction is still subject to customary closing conditions.
LabCorp reported an 11% increase in it third-quarter profits to $152.8 million, profiting from its February acquisition of drug-development firm Covance. The acquisition was responsible for nearly all of LabCorp's 47% revenue growth to $2.27 billion in the three months ended Sept. 30.