Hogan Lovells announced today that a team of its corporate and transactional lawyers are advising client Laboratory Corporation of America Holdings (LabCorp) on LabCorp’s proposed acquisition of MEDTOX Scientific, Inc. (NASDAQ: MTOX) in a cash merger having a value of approximately US$240 million. LabCorp is an S&P 500 company headquartered in Burlington, NC and operates one of the largest clinical laboratory networks in the world, with a U.S. network of 36 primary laboratories. MEDTOX Scientific offers a variety of laboratory services and devices geared towards the detection of drug and alcohol use.
“We consider it a privilege to be advising LabCorp, a longstanding Hogan Lovells client, on this significant acquisition,” said Hogan Lovells Corporate partner Michael Silver.
The transaction is subject to customary closing conditions including the expiration or early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the HSR Act), as amended, and approval by MEDTOX’s stockholders.
The Hogan Lovells team responsible for advising LabCorp on the transaction include Michael Silver (partner, New York), John Booher (partner, Silicon Valley), Joe Krauss (partner, Washington, D.C.), Helen Trilling (partner, Washington, D.C.), Bill Neff (partner, Washington, D.C.), Allen Hicks (counsel, Washington, D.C.), Leigh Oliver (associate, Washington, D.C.), Christiana Stevenson (associate, New York), Erin Reichenbach (associate, New York), and Meg McIntyre (associate, Washington, D.C.).
