LabCorp nabs Chiltern, boosting its big Covance CRO group to 20K-plus staffers in $1.2B deal
LabCorp is going deep into the CRO business.
A little more than two years after paying $6.1 billion for Covance, LabCorp has now followed up with a $1.2 billion cash deal for Chiltern, adding another 4,500 clinical outsourcing workers around the globe to its employee roster.
The Chiltern acquisition is designed to get LabCorp deeper into new and mid-sized biopharmas. Its Covance group was already a top-10 player when LabCorp stepped in with its deal. In a statement, the company noted it has handled more than 1,800 clinical trials over the past 5 years for clients.
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