LabCorp acquires Covance (2015)
LabCorp agreed in late 2014 to buy Covance for about $6.1 billion in cash and stock, pairing its diagnostic-testing network with Covance's clinical trial services. The combined company sold drugmakers lab tests tied to their clinical studies.
The deal closed in March 2015 and made LabCorp a leading provider of clinical trials testing.
It showed a health services company could attach drug-development services to its core business and win higher-margin work.
Same logic driving McKesson: fold clinical research services into an existing healthcare services base.
