Irvine-based US Pathology Labs officially became part of Laboratory Corporation of America Holdings on Friday.
LabCorp completed its $155 million buy of US Labs, which provides diagnostic, prognostic and predictive cancer testing to hospitals, doctors and surgery centers.
Chief Executive R. Judd Jessup and other US Labs managers are expected to stay with LabCorp.
The deal strengthens Burlington, N.C.-based LabCorp’s presence on the West Coast.
Specialty testing labs are seen as an area ripe for consolidation.
Laboratory deals “accelerated quite a bit last year and will continue to accelerate,” said Michael Ellington, managing partner of Strategic Equity Group, a Santa Ana-based valuation advisory services company.
