No, Labcorp did not acquire the entirety of Invitae; instead, it completed the acquisition of select assets from the medical genetics company.
On August 5, 2024, Labcorp, a global leader in innovative and comprehensive laboratory services, announced the finalization of its deal to acquire specific assets from Invitae, a prominent medical genetics company. This transaction means that while Labcorp has taken over certain parts of Invitae's business operations and holdings, Invitae as a whole entity was not fully purchased by Labcorp.
Key Details of the Acquisition
The strategic acquisition highlights Labcorp's expansion in the medical genetics field by integrating valuable components from Invitae's portfolio.
Here's a breakdown of the key aspects:
- Acquiring Company: Labcorp (NYSE: LH)
- Acquired Entity: Select assets of Invitae (OTC:NVTAQ)
- Completion Date: August 5, 2024
- Nature of Invitae: A leading medical genetics company
- Nature of Labcorp: A global leader in laboratory services
| Aspect | Detail |
|---|---|
| Acquiring Company | Labcorp (NYSE: LH) |
| Acquired Entity | Select assets of Invitae (OTC:NVTAQ) |
| Completion Date | August 5, 2024 |
| Invitae's Role | A leading medical genetics company |
| Labcorp's Role | Global leader of innovative and comprehensive laboratory services |
This targeted acquisition allows Labcorp to enhance its capabilities and offerings in medical genetics, leveraging Invitae's specialized assets without a full corporate takeover.
