LifeLabs Medical Laboratory has agreed to acquire CML HealthCare (TSX: CLC) for CA$10.75 per share. The total transaction, including the assumption of debt, is valued at approximately CA$1.22 billion. LifeLabs is indirectly owned by OMERS Administration, whose interest is managed by Borealis Infrastructure. CML is a community-based, medical diagnostic services provider in Canada. The company serves more than 6 million patients each year at its more than 200 lab and diagnostic imaging sites in Ontario and British Columbia, processing over 40 million tests annually.