LabCorp’s $485 Million Envigo’s nonclinical contract research services business and sale of LabCorp’s Covance Research Products business

Hogan Lovells advised LabCorp on the deal

LabCorp, a leading global life sciences company, executed a complex two-way acquisition and divestiture transaction with Envigo, a leading provider of nonclinical contract research services and research models. Under the signed agreements, LabCorp’s Covance Drug Development segment will acquire Envigo’s nonclinical contract research services business, and Envigo will acquire LabCorp’s Covance Research Products business. The proposed transactions will result in net cash consideration payable by LabCorp of US$485 million.

The transactions will make Envigo, a leading provider of nonclinical contract research services and research models, a pure-play research models and services business, while LabCorp-owned Covance will expand its global nonclinical drug development capabilities. At closing, the two businesses also will enter into a multi-year strategic supply agreement to continue their business relationship.

The Hogan Lovells team was led by corporate partners Mike Silver (Picture) and Allen Hicks, counsel Jessica Bisignano and senior associates Gabi Witt and Allison Netto, with support from, tax partner Scott McClure, finance partner Stuart Morrissy and senior associate Andrew Ceppos, antitrust partners Leigh Oliver and Angus Coulter and senior associate Lauren Battaglia, employee benefits partner Carin Carithers and senior associate Ben Clark and UK pensions partner Edward Brown.

Involved fees earner: Lauren Battaglia – Hogan Lovells; Jessica Bisignano – Hogan Lovells; Edward Brown – Hogan Lovells; Carin Carithers – Hogan Lovells; Andrew Ceppos – Hogan Lovells; Ben Clark – Hogan Lovells; Angus Coulter – Hogan Lovells; Allen Hicks – Hogan Lovells; Scott McClure – Hogan Lovells; Stuart Morrissy – Hogan Lovells; Allison Netto – Hogan Lovells; Leigh Oliver – Hogan Lovells; Michael Silver – Hogan Lovells; Gabrielle Witt – Hogan Lovells;

Law Firms: Hogan Lovells;

Clients: Laboratory Corporation of America;

Author: Ambrogio Visconti