Benzinga | Aug 13, 2021 02:10PM EDT

Labcorp Acquires Digital Pregnancy Platform Provider For Undisclosed Amount

* The clinical testing giant Laboratory Corp of America Holdings (NYSE:LH) picked up Ovia Health, developer of a digital platform for tracking pregnancies and coaching new parents through infancy.

* The acquisition marks a new step in Labcorp's commercial push into the booming femtech (female technology) space after an investment in Ovia last year.

* The financial terms were not disclosed, but Ovia has clocked about $20 million in annual revenue.

* Ovia offers on-demand coaching services, including baby sleep training and breastfeeding, and tools for following ovulation cycles and fetal development.

* Labcorp expects Ovia's offerings for patients to complement the menu of tests and services it already provides to OB-GYNs and primary care physicians, including genetic carrier screening and counseling.

* Ovia says more than 15 million families have used its programs.

* Price Action: LH shares are up 0.79% at $302.88 during the market session on the last check Friday.