Hogan Lovells Advises Laboratory Corporation of America Holdings in Acquisition of LipoScience
26 September 2014
WASHINGTON, D.C., 26 September 2014 – Hogan Lovells is representing longstanding client Laboratory Corporation of America Holdings (NYSE: LH), (LabCorp), a pioneer in commercializing new diagnostic technologies, in its announced agreement to acquire LipoScience, Inc. (NASDAQ:LPDX), a provider of specialized cardiovascular diagnostic laboratory tests based on nuclear magnetic resonance (NMR) technology.
“We are very pleased to be able to assist our valued client LabCorp as it continues to expand its offerings on the cutting edge of life science,” said Hogan Lovells partner Michael Silver. “Our strong regulatory expertise and our depth of experience in mergers and acquisitions in this industry are demonstrated in this transaction.”
LabCorp will acquire LipoScience in a merger transaction for a purchase price of US$5.25 per share in cash, or a transaction value of US$85.3 million. The merger is expected to close in the fourth quarter of 2014, subject to regulatory clearances and LipoScience shareholder approval
The Hogan Lovells multi-office, cross-practice team was led by corporate partners Michael Silver (New York), John Booher (Silicon Valley), and Allen Hicks (Washington), with assistance from Leigh Oliver (Washington, Antitrust), Helen Trilling (Washington, Health), Carin Carithers (Washington, Tax), Randy Prebula (Washington, FDA/Medical Device), and associate Page Griffin, Scott Grossman, and Christiana Stevenson.