Hogan Lovells is advising LabCorp, a leading global life sciences company, in an agreement to sell its Covance Food Solutions business to Eurofins Scientific, a global group of laboratories active in food, environment and pharma product testing. The all-cash purchase price of the transaction is US$670 million.

The transaction is expected to close in the third quarter of 2018, subject to customary closing conditions and regulatory approvals.

The Hogan Lovells team was led by New York-based partner Michael Silver and Baltimore-based partner William Intner and senior associate Jessica Bisignano.

The global team also consisted of co-head of our Americas Life Sciences practice and partner Adam Bellack, Antitrust partner Leigh Oliver, Corporate partners Carin Carithers, Stephanie Keen and Tom Brassington, Tax partners Scott McClure and Philip Harle, Employment partners Ed Bowyer and Michael DeLarco, Pensions partner Edward Brown, Regulatory partners Martin Hahn, T. Clark Weymouth and Ajay Kuntamukkala, and Privacy and Cybersecurity partner Scott Loughlin. They were assisted by counsels Michael Applebaum, Seaton Thedinger, Judith Crate, and Roy Liu; senior associates Lauren Battaglia, Charles Stones, Matthew Bousfield, Natalie Psaila, Nathan Cooper, Nathan Salminen, Alex Hohl and Andrew Felton; and associate Nathasha Newey, Oliver Spratt, Dianne Milner, Caitlin Piper, Joe Vladeck, Paul Maynard, Patrick de Lapérouse, Sean Carlesimo, Julia Diaz, and Peter Dixon.

Hogan Lovells has advised LabCorp for more than a decade on many of its most significant transactions including: Chiltern, Covance, Genzyme Genetics, Pathology Associates Medical Laboratories (PAML), Mount Sinai Health System Clinical Outreach Laboratories, Monogram Biosciences, Medtox, Liposcience and Sequenom.