LabCorp to buy LipoScience for $85.3M in cash


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BURLINGTON, N.C. (AP) — Laboratory Corp. of America will pay $85.3 million in cash for diagnostic test maker LipoScience Inc. in a deal that aims to strengthen its clinical decision support programs.

LabCorp will pay $5.25 for each LipoScience share, a 65 percent premium to the stock's closing price on Wednesday. Shares of LipoScience soared after the deal was announced Thursday morning.

Raleigh, North Carolina-based LipoScience makes personalized tests for cardiovascular and metabolic disorders to help manage conditions like heart disease. Burlington, North Carolina-based LabCorp's products include blood analyses and reproductive genetics tests that it performs for health care providers, insurers and government agencies.

Shares of LipoScience climbed 64 percent, or $2.03, to $5.22 in morning trading Thursday.

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