LabCorp completes acquisition of Monogram Biosciences

9 August 2009

Laboratory Corporation of America Holdings (NYSE:LH) has announced the successful completion of its acquisition of Monogram Biosciences, Inc.

“This acquisition is a significant step in the execution of LabCorp’s strategy,” said David P King, Chairman and Chief Executive Officer of LabCorp. “By adding Monogram's innovative offerings to our extensive esoteric testing menu, we will advance our leadership in infectious disease and cancer testing, companion diagnostics and personalized medicine.”

As a result of the acquisition, Monogram became a wholly-owned subsidiary of LabCorp, and Monogram shares ceased to be traded on the NASDAQ Global Market at the close of trading on August 4, 2009.

At the effective time of the merger, all outstanding shares of Monogram common stock not validly tendered and accepted for payment in the tender offer were converted into the right to receive $4.55 per share in cash (the same price paid in the tender offer), without interest and subject to applicable withholding taxes.

American Stock Transfer & Trust Company, acting as paying agent for the merger, will mail to the remaining former stockholders of Monogram materials necessary to exchange their former Monogram shares for such payment.

Laboratory Corporation of America Holdings is a pioneer in commercializing new diagnostic technologies and one of the first to embrace genomic testing. With annual revenues of $4.5 billion in 2008, over 28,000 employees worldwide, and more than 220,000 clients, LabCorp offers clinical assays ranging from routine blood analyses to HIV and genomic testing.

Monogram Biosciences, Inc. discovered, developed and marketed products to guide and improve treatment of serious infectious diseases and cancer. Its technology is also being used by numerous biopharmaceutical companies to develop new and improved anti-viral therapeutics and vaccines as well as targeted cancer therapeutics.

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