LabCorp's Orchid buy finally approved as it agrees to sell off paternity testing business
This article was originally published in Clinica
Executive Summary
Laboratory Corporation of America's (LabCorp's) acquisition of DNA testing specialist Orchid Cellmark has finally got the go-ahead from US antitrust authorities, after the firm agreed to divest Orchid's government paternity business. The $85.4m deal, which was announced in April (www.clinica.co.uk, 7 April 2011), has now been approved by the US Federal Trade Commission. LabCorp had extended the tender offer period 10 times as it tried to come to an agreement with the commission. The firm has already agreed to sell Orchid's government paternity testing business to privately-held DNA paternity testing specialist DNA Diagnostics Center once the transaction has closed. Dayton, Ohio-based Orchid also offers commercial paternity testing and forensic DNA testing. As well as the US, it also has labs in the UK and Canada.