LabCorp Announces Agreement to Acquire MEDTOX Scientific for $27 per Share

Laboratory Corporation of America® Holdings LH and MEDTOX Scientific, Inc. MTOX, a provider of high quality specialized laboratory testing services and on-site/point-of-collection testing (POCT) devices, today announced that they had entered into a definitive merger agreement under which LabCorp would acquire MEDTOX for a purchase price of $27.00 per share in cash, representing a total enterprise value of approximately $241,000,000. The board of directors of MEDTOX unanimously approved the agreement and recommended approval of the transaction by MEDTOX's shareholders.