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BUSINESS ACQUISITIONS AND DISPOSITIONS
 6 Months Ended
Jun. 30, 2025
Business Combination [Abstract]  
BUSINESS ACQUISITIONS AND DISPOSITIONS BUSINESS ACQUISITIONS AND DISPOSITIONS
Acquisitions
During the six months ended June 30, 2025, the Company acquired several businesses and related assets for cash of $63.5. The preliminary purchase considerations for these acquisitions were allocated under the acquisition method of accounting to the estimated fair market value of the net assets acquired, including approximately $46.4 in identifiable intangible assets. The weighted-average amortization periods for the customer relationships and non-compete agreements were 15.0 years and 5.0 years, respectively. A residual amount of tax deductible goodwill, including measurement period adjustments relating to prior acquisitions of $57.9, was recorded as of June 30, 2025.
The purchase price allocations for these acquisitions were preliminary at June 30, 2025. The valuation of acquired assets and assumed liabilities included the following:
Business Acquisitions Closed During the Six Months Ended June 30, 2025Measurement Period Adjustments During the Six Months Ended June 30, 2025Amounts Acquired During the Six Months Ended June 30, 2025
Property, plant, and equipment
$— $(0.8)$(0.8)
Goodwill41.1 16.8 57.9 
Intangible assets46.4 (16.0)30.4 
Total assets acquired87.5 — 87.5 
Accrued expenses and other24.0 — 24.0 
Total liabilities acquired24.0 — 24.0 
Net assets acquired63.5 — 63.5 
Cash paid for acquisitions$63.5 $— $63.5 
On September 17, 2024, the Company announced that it entered into an agreement with Cinven, Inc. to acquire a 15% minority interest in SYNLAB, a leader in medical diagnostic services and specialty testing in Europe, for approximately $151.6 (€140.4). The transaction closed in March 2025 and is accounted for as an equity method investment within the Company’s Condensed Consolidated Financial Statements.
On March 11, 2025, the Company announced that it entered into an agreement with OPKO Health, Inc. to acquire select assets of the laboratory business of BioReference Health, focused on oncology and oncology-related clinical testing services across the U.S. The purchase price for the transaction is up to $225.0, including $192.5 payable at closing and up to $32.5 of additional consideration contingent on performance. The transaction is anticipated to close in the second half of 2025, subject to customary closing conditions for a transaction of this type.
On July 22, 2025, the Company announced that it entered into an agreement with Community Health Systems, Inc. (CHS) to acquire select assets of the outreach business from CHS across 13 states for a purchase price of approximately $195.0. The transaction is anticipated to close in the fourth quarter of 2025, subject to customary closing conditions and applicable regulatory approvals for a transaction of this type.
Dispositions
During the six months ended June 30, 2025, the Company exited an equity method investment for cash proceeds of $6.0. During the six months ended June 30, 2024, the Company sold the assets of Beacon Laboratory Benefit Solutions, Inc. for cash proceeds of $13.5 and recorded a gain of $4.9 included in Other, net in the Condensed Consolidated Statements of Operations.