The acquisition aims to provide better quality diagnostic services to community patients in British Columbia, Canada, through patient service centers, homecare and long-term care visits, and dedicated laboratory testing facilities.
LifeLabs president and CEO Sue Paish said with increasing demand for testing services, the company needs to become more effective and efficient in ensuring British Columbians receive the best service and reliable access to testing.
"At the same time, we need to continue to invest in technologies and innovation for patients and health care providers," Paish added.
BC Biomedical CEO Doug Buchanan said, "So, in bringing the two companies together, we are fully aligned in our commitment to quality and continuous improvement in patient services in B.C. going forward."
Subject to regulatory approvals from the Provincial and Federal regulatory bodies, the transaction is expected to be completed later in the Spring.