
	BUSINESS ACQUISITIONS

During the six months ended June 30, 2017, the Company acquired various laboratories and related assets for approximately $568.0 in cash (net of cash acquired). The purchase consideration for these acquisitions has been allocated to the estimated fair market value of the net assets acquired, including approximately $229.1 in identifiable intangible assets (primarily customer relationships and non-compete agreements) and a residual amount of goodwill of approximately $141.3. 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.

On May 4, 2017, the Company completed the acquisition of Pathology Associates Medical Laboratories (PAML), one of the nation’s premier medical reference laboratories and a healthcare solutions company. With the acquisition of PAML, the Company assumes PAML’s ownership interests in five joint ventures. The Company's acquisition of PAML represents the first step in completing the transaction. During 2017 and into 2018, the Company will acquire the ownership interests in four of the joint ventures and will continue to evaluate future options for their interests in the remaining joint venture. The purchase consideration for the transaction has been preliminarily allocated to the estimated fair market value of the net assets acquired. The amounts paid in advance for the ownership interest in the four joint ventures are included in other assets on the condensed consolidated balance sheet. The total purchase consideration for the transaction, inclusive of the amounts for the future acquisition of the ownership interests in the four joint ventures, is classified as cash paid for acquisition of a business on the condensed consolidated statement of cash flows.

While the purchase price allocations for PAML and one of the Company's 2016 fourth quarter acquisitions are substantially complete, they are still preliminary and subject to change. The areas of the purchase price allocation that are not yet finalized relate primarily to intangible assets, goodwill, investment in joint ventures and the impact of finalizing deferred taxes. Accordingly, adjustments may be made as additional information is obtained about the facts and circumstances that existed as of the valuation date. The Company expects these purchase price allocations to be finalized within a year from each acquisition date. Any adjustments will be recorded in the period in which they are identified.