LabCorp Buys Orchid Cellmark International DNA Testing Services
Posted Apr 06 2011 2:57pm
LabCorp also provides the testing services for Google’s 123andme. In addition there are have been a couple other purchases by LabCorp. Initially the Westcliff purchase was questioned but as I understand now it has moved forward.
When you view the Orchid website they are pretty much marketing in both the UK and Canada. In the US some of the mail order DNA businesses are still under investigation from the FDA. It’s pretty wild as the site is not just for medical testing but they offer forensic, paternity and several other types of tests. In view of this business maturing, beware of the DNA snatchers.<grin>. BD
Laboratory Corporation of America® Holdings (LabCorp®) (NYSE: LH) and Orchid Cellmark Inc. (NASDAQ: ORCH), an international provider of DNA testing services primarily for forensic and family relationship applications, today announced that they have entered into a definitive agreement and plan of merger under which LabCorp will acquire all of the outstanding shares of Orchid Cellmark in a cash tender offer for $2.80 per share for a total purchase price to stockholders and optionholders of approximately $85.4 million. Orchid Cellmark strengthens LabCorp's presence and strong brand name in identity testing in the US and establishes its presence in identity testing in the UK.