Boston, MA 09/26/2014 (wallstreetpr) – According to reports, Laboratory Corp. of America Holdings (NYSE:LH) has decided to acquire LipoScience Inc (NASDAQ:LPDX). LPDX is a well-known name in the field of specialized cardiovascular diagnostic laboratory testing. All of its tests are based on nuclear magnetic resonance technology.
Insights of the deal:
Both the firm have decided to enter into a definitive merger agreement. Under the agreement, Laboratory Corp. of America Holdings (NYSE:LH) would pay $85 million in total or $5.25 per share in cash to LPDX and acquire it. LipoScience Inc (NASDAQ:LPDX) has reportedly accepted an offer from LH. Now the future of the transaction depends upon the shareholders’ approval. The entire senior management of the firm looks pretty pleased with the transaction. Recently David P. King, Chief Executive Officer and Chairman of LH was spotted saying that he and the entire management team was very delighted to welcome LPDX on board. He further announced that NMR LipoProfile tests of LPDX would enhance the performance of innovative clinical decision support programs of LipoScience Inc (NASDAQ:LPDX).. It will be the fifth pillar of the company’s strategy and help LH offering differentiated and ever-broader knowledge services to patients and physicians effectively over the coming years. LH seeks new ways to improve itself in scientific innovation and leadership, and this deal will surely help Laboratory Corp. of America Holdings (NYSE:LH) in going forward in the same direction.
Laboratory Corp. of America Holdings (NYSE:LH) believes that this transaction not only will improve its operational efficiency, but also its earnings as well over time. By the third year of the transaction, the organization expects to recover its cost of capital easily. Howard Doran, Chief Executive Officer and President of LipoScience Inc (NASDAQ:LPDX) told the reporters that this deal would further help a lot of physicians, patients and other stakeholders. He also noted that he was thankful to his staff of physicians and management team who helped him bringing his dream of offering world class service to patients come true.
