LabCorp to buy rival Medtox for $245 million

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On June 4 it was reported that lab-testing company Laboratory Corp of America Holdings (LH.N) will buy smaller rival Medtox Scientific Inc. (MTOX.O) for $27 a share, or about $245 million, in cash.

The deal, which represents a premium of 37 percent over Medtox’s Friday close of $19.70, has been approved by the boards of both companies and is expected to close in the third quarter of 2012.

“This acquisition provides a strong foundation for growth in (the specialized toxicology testing) business, as we build and expand LabCorp’s toxicology center of excellence,” Laboratory Corp’s CEO David King said in a statement.

LabCorp with annual earnings of about $6-billion, saw their shares trading at $82.80 in early morning trade Monday on the New York Stock Exchange. Read more

Change is Good! Good Changes Are Even Better!

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We have finally made it to June and so many changes have taken place over the last year with surprisingly, so few bumps in the road, so to speak. Since early 2011 we have implemented more new and exciting programs and productivity improvements than over the previous 15 years. One has to wonder what we were doing prior to this. All these changes have been both enlightening and rewarding for the staff and we believe more importantly, a benefit to our valuable clients. Here is just a short list of things we have implemented over the last two years and believe us, the changes are paying off. Read more