Enthalpy Bioanalytical Testing Division Acquired by LabCorp June 11, 2010

June 11, 2010

Overview

Laboratory Corporation of America (LabCorp®) announced its acquisition of the Bioanalytical Division of Enthalpy Analytical, Inc, on June 11, 2010.

Significance

The acquired bioanalytical division of Enthalpy Analytical will become the newest laboratory site for Tandem Labs and will operate under the Tandem Labs’ name. The chemical measurement division of Enthalpy Analytical, Inc., which provides air quality analysis services, will retain its existing name and will remain a private entity.

Crosstree’s Role

Crosstree Capital Partners served as exclusive financial advisor to Enthalpy Analytical. Crosstree took steps to strategically position each division appropriately depending upon fit with the prospective buyer. During a global recession that hit the pharmaceutical services sector particularly hard, Crosstree could structure an attractive all-cash deal for the owners of Enthalpy.

View All Outcomes

We were impressed with the intensity and thoroughness of Crosstree’s preparation. Their team worked tirelessly on analytics and positioning, ultimately giving us the flexibility to efficiently navigate various strategic options involving our business and each of its two divisions. I wouldn’t think twice about using Crosstree again.

TODD GROSSHANDLER

Co-Founder, Enthalpy Analytical