Labcorp, a leading global laboratory services provider, has announced its plans to acquire certain assets of Invitae, a medical genetics company, through a bankruptcy auction process. The proposed deal is expected to significantly enhance Labcorp’s specialty testing capabilities, particularly in the areas of oncology and rare diseases. The transaction is anticipated to generate approximately $400 million in annual revenue for Labcorp upon completion, which is expected in the third quarter of 2024.