Laboratory Corporation of America Holdings of Burlington purchased Tandem Labs, a Utah-based bioanalytical and immunoanalytical contract research organization.
Tandem Labs will continue to operate under its existing name as a member of the Esoterix clinical trials group at LabCorp. The transaction, which is subject to regulatory approval, is expected to close in the first quarter of 2008. Terms of the agreement were not disclosed.
"We are very pleased that Tandem Labs, a premier contract research organization specializing in advanced mass spectrometry, immunoanalytical support, pharmacokinetics, and pharmacodynamics for the pharmaceutical and biotechnology industries is joining our clinical trials business," said David P. King, president and chief executive officer of LabCorp.