Burlington-based Laboratory Corporation of America said Friday it has completed its $85.3 million acquisition of LipoScience, a Raleigh company whose diagnostics tool measures heart disease risk.
LabCorp said LipoScience shareholders approved the acquisition Thursday at a special meeting. The shareholder approval closed the transaction and ceased the trading of LipoScience public shares.
LipoScience went public in 2013 and quickly ran into trouble. Earlier this year the company laid off 22 employees and ended a contract with Health Diagnostic Laboratory, after the Richmond-based company put out a product to compete with LipoScience.
In the wake of mounting problems last year, the company’s CEO, Richard Brajer, resigned after a decade of running the company.
Never miss a local story.
LipoScience makes a diagnostic tool that measures lipoprotein particles in the bloodstream that cause arterial plaque buildup and lead to heart disease.
LabCorp is a global diagnostics company with 34,000 employees worldwide, including 6,800 in North Carolina.