The transaction expands Labcorp’s presence in the US, Germany, and South Africa while strengthening biomarker and specialty testing capabilities for clinical trials.
Labcorp has acquired MLM Medical Labs, a global central and specialty laboratory provider with operations in the US, Germany, and South Africa, according to a company press release. Financial terms of the transaction were not disclosed.
The acquisition establishes Labcorp as the only central laboratory provider with a wholly owned laboratory network spanning four continents: North America, Europe, Asia, and Africa, according to the announcement. The transaction is designed to expand the company’s footprint in key clinical research regions while strengthening its biomarker and specialty testing capabilities.
“Clinical trial sponsors today need scientific expertise, global reach and operational flexibility to advance increasingly complex development programs,” says Brian Caveney, MD, executive vice president and president, biopharma laboratory services, and chief medical and scientific officer, Labcorp, in a release. “MLM complements Labcorp’s existing strengths and enhances our ability to support sponsors of all sizes, from emerging biotechs to leading pharmaceutical companies. Together, we are well positioned to provide the capabilities, regional expertise and high-touch support sponsors need to advance innovative therapies worldwide.”
Expanding Infrastructure and Regional Reach
According to Labcorp, the integrated infrastructure enhances its capacity to support complex multinational clinical studies with consistent scientific, operational, and regulatory oversight.
The transaction also expands the company’s presence in critical research markets, including Africa, where MLM Medical Labs operates the continent’s first central laboratory accredited by the College of American Pathologists. In addition, the acquisition broadens sponsor access to specialized biomarker testing to support clinical development programs, the company stated.
Evercore served as exclusive financial advisor to Labcorp, and Pierson Ferdinand and Hogan Lovells acted as legal counsel.
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