BUSINESS ACQUISITIONS

6 Months Ended

Jun. 30, 2012

Business Combinations [Abstract]

Business Acquisitions

BUSINESS ACQUISITIONS

On June 4, 2012, the Company and MEDTOX, a provider of high quality specialized laboratory testing services and on-site/point-of-collection testing (POCT) devices, announced that they had entered into a definitive merger agreement under which the Company would acquire MEDTOX for a purchase price of $27.00 per share in cash, representing a total enterprise value of approximately $241.0.

The transaction was subject to customary closing conditions including the expiration or early termination of the HSR waiting period and approval by MEDTOX's stockholders. On July 12, 2012, the Federal Trade Commission granted early termination of the waiting period. On July 31, 2012, MEDTOX stockholders voted to approve the merger agreement. On July 31, 2012 the Company completed its acquisition of MEDTOX for $248.2 in cash, excluding transaction fees.

During the six months ended June 30, 2012, the Company acquired various laboratories and related assets for approximately $25.2 in cash (net of cash acquired). These acquisitions were made primarily to extend the Company's geographic reach in important market areas and/or enhance the Company's scientific differentiation and esoteric testing capabilities.