The Dealmaking column is a survey of recent transactions, including strategic alliances, mergers & acquisitions, and financings, in the life sciences industries. Deals are listed by the following industry sectors: in vitro diagnostics, medical devices, pharmaceuticals, and research/analytical instrumentation and reagents. All transactions are excerpted from Elsevier's Strategic Transactions database, providing comprehensive transaction coverage from 1991 to the present.
Laboratory Corp. of America Holdings has acquired publicly traded Medtox Scientific Inc. (lab testing services and drug screening diagnostics) for $244mm, or $27 per share in cash (a 35% premium). (Jun.)
Medtox was founded in 1983 as Environmental Diagnostics and began commercializing products three years later, when it acquired conventional biodiagnostics...