Bankrupt MedLab To Sell Units To LabCorp For $10.5M

Law360, Wilmington (January 28, 2014, 7:34 PM ET) -- Bankrupt Laboratory Partners Inc., also known as MedLab, said in court papers Tuesday that it had landed a stalking horse for the planned auction of two of its Indiana-based units, stating that Laboratory Corp. of America Holdings would set the floor at $10.5 million.

In filings in the Delaware bankruptcy court, MedLab announced that it had struck an asset purchase agreement with the North Carolina-based clinical laboratory giant to hand over subsidiaries Terra Haute Medical Laboratory Inc. and Pathology Associates of Terra Haute Inc. in a...
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