LabCorp to acquire Chiltern for approx. $1.2 billion

WILMINGTON, NC (WWAY) — Chiltern, whose North American headquarters is based in Wilmington, is set to become part of LabCorps Covance segment.

According to a press release, LabCorp, a leading global life sciences company, and Chiltern, a specialty CRO, announced Monday that LabCorp will acquire Chiltern in an all-cash transaction valued at approximately $1.2 billion.

“This acquisition strengthens our position as a leading life sciences company that delivers innovative diagnostics and drug development solutions to improve health and improve lives,” said David P. King, chairman and CEO of LabCorp.

Chiltern has a 35-year track record of growth as a provider of clinical services and solutions in multiple key therapeutic areas, with engagement models for biopharmaceutical and medical device companies.

It has more than 4,500 employees around the world, including Asia-Pacific, and has conducted more than 1,800 studies across 87 countries in the last five years.

Some of the strategic highlights of the move, as described on the Chiltern website, include:

• Creates a leading CRO, with significant global scale
• Provides diverse customer base with strong growth potential across all client segments
• Extends expertise and capabilities in key high-growth therapeutic and specialty areas
• Expands portfolio of flexible clinical development solutions tailored to customers’ needs

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