LabCorp To Acquire Genzyme Unit For $925M

Law360, New York (September 13, 2010, 7:24 PM EDT) -- Genzyme Corp. has sold its Genzyme Genetics division to Laboratory Corp. of America Holdings for $925 million in cash, a move that Genzyme said would allow it to focus on core operations and recover faster from manufacturing problems.

"LabCorp is the right strategic partner for Genzyme Genetics," said Henri A. Termeer, chairman and CEO of Genzyme, on Monday. "The business will have the opportunity to continue to grow, serve its customers and fulfill its potential to bring continued innovation to important areas of the diagnostics field."...
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