SUBSEQUENT EVENT

6 Months Ended

Jun. 30, 2017

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

In June 2017, the Company entered into definitive agreements to acquire the laboratory businesses of Med Fusion and Clear Point for $150 million in an all-cash transaction which closed on July 14, 2017. Med Fusion and Clear Point provide precision medicine diagnostics to aid cancer treatment nationwide and the acquired businesses will form the basis for the Company's first national center of excellence in precision diagnostics for oncology. The final consideration is subject to post closing adjustments related to working capital.

The preliminary purchase price allocations for the Med Fusion and Clear Point acquisitions, which will be accounted for as business combinations, are not provided as the appraisals necessary to assess fair values of assets acquired and liabilities assumed are not yet complete, but a significant portion of the purchase price is expected to be allocated to intangible assets and goodwill.