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BUSINESS ACQUISITIONS AND DISPOSITIONS | 3 Months Ended
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Mar. 31, 2025
Business Combinations [Abstract] |
BUSINESS ACQUISITIONS AND DISPOSITIONS | BUSINESS ACQUISITIONS AND DISPOSITIONS Acquisitions During the three months ended March 31, 2025, the Company acquired several businesses and related assets for cash of $53.5. 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 $41.1 in identifiable intangible assets. The 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, net of measurement period adjustments relating to prior acquisitions of $29.0 was recorded as of March 31, 2025. The purchase price allocations for these acquisitions were preliminary at March 31, 2025. The valuation of acquired assets and assumed liabilities include the following:
| Business Acquisitions Closed During the Three Months Ended March 31, 2025 | Measurement Period Adjustments During the Three Months Ended March 31, 2025 | Amounts Acquired During the Three Months Ended March 31, 2025 |  |
Goodwill | $ | 36.4 |  | $ | (7.4) |  | $ | 29.0 |  |  |
Intangible assets | 41.1 |  | 7.4 |  | 48.5 |  |  |
Total assets acquired | 77.5 |  | — |  | 77.5 |  |  |
Accrued expenses and other | 24.0 |  | — |  | 24.0 |  |  |
Total liabilities acquired | 24.0 |  | — |  | 24.0 |  |  |
Net assets acquired | 53.5 |  | — |  | 53.5 |  |  |
Cash paid for acquisitions | $ | 53.5 |  | $ | — |  | $ | 53.5 |  |  |
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, including applicable regulatory approvals. Dispositions During the three months ended March 31, 2024, the Company sold the assets of Beacon Laboratory Benefit Solutions, Inc. for $13.5 and recorded a gain of $4.9

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-5 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/805/tableOfContent + Details
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