LabCorp acquires outsourcing firm Sciformix
American firm LabCorp has successfully acquired global outsourcing company Sciformix for an undisclosed amount. LabCorp CEO David King said in a statement that the acquisition will strengthen LabCorp’s drug-development arm Covance especially in postmarket safety and market access. Headquartered in Massachusetts, Sciformix also has operations in India and the Philippines. It offers postmarket risk management, clinical development support, regulatory affairs support, technology services and real-world evidence solutions. The majority of Sciformix’s 1,100 employees are based in Asia, fueling Covance’s global expansion. Recently, LabCorp announced its collaboration with European clinical laboratory tester Unilabs to provide development and delivery of companion diagnostics in immuno-oncology. Sciformix will become part of Covance, LabCorp’s drug development business, and expand Covance’s pharmacovigilance capabilities for post-approval safety solutions.
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