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Genzyme genetic testing unit nets $925M buyout

Mon, 09/13/2010 - 6:31am
Mass High Tech: The Journal of New England Technology

Genzyme Corp. is selling its genetic testing business for $925 million in cash to Laboratory Corporation of America Holdings, which plans to offer jobs to Genzyme Genetics’ 1,900 employees.

Burlington, N.C.-based LabCorp, a routine laboratory testing company, will pick up Genzyme Genetics’ testing services, technology, intellectual property and nine testing laboratories. The Genzyme business unit focuses on reproductive and oncology testing.

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