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BUSINESS ACQUISITIONS
6 Months Ended
Jun. 30, 2017
Business Combinations [Abstract]  
BUSINESS ACQUISITIONS
BUSINESS ACQUISITIONS

On May 1, 2017, the Company completed the acquisition of the outreach laboratory service business of PeaceHealth ("PHL"), in an all-cash transaction for $102 million. PHL is a healthcare system that provides clinical testing services to physicians, hospitals, and clinics in Oregon, Washington and Alaska. The assets acquired principally consist of $72 million of tax deductible goodwill and $30 million of customer-related intangible assets. The intangible assets are being amortized over a useful life of 15 years. The goodwill recorded primarily includes the expected synergies resulting from combining the operations of PHL with those of the Company and the value associated with an assembled workforce and other intangible assets that do not qualify for separate recognition. The acquired outreach laboratory service business of PHL is included in the Company's DIS business. For further details regarding business segment information, see Note 12.

Supplemental pro forma combined financial information has not been presented as the impact of the PHL acquisition is not material to the Company's consolidated financial statements.

For details regarding the Company's 2016 acquisitions, see Note 5 to the consolidated financial statements in the Company's 2016 Annual Report on Form 10-K.