LabCorp to acquire Nat Genetics Institute

Laboratory Corp of America Holdings has entered into a definitiveagreement to acquire all the stock of privately-held National Genetics Institute, which specializes in hepatitis C virus testing kits. Specific financial terms were not disclosed and the transaction is expected to be completed in July.

LabCorp is gaining access to NGI's ultra-sensitive tools to assess HCV disease progress at levels previously undetectable, and to a facility on the west coast of the USA. Thomas Mac Mahon, LabCorp's chief executive, said he believes that infectious disease testing, "and specifically hepatitis C testing employing molecular diagnostics, will continue to be one of the fastest-growing areas of laboratory testing."