Labcorp

Laboratory Corporation of America Holdings

Labcorp logo updated December 2020
Company type	Public
Traded as	NYSE: LH S&P 500 component
Industry	Health care
Founded	September 5, 1978; 46 years ago (1978-09-05) (as Roche BioMedical)
Founder	Matthew Benger
Headquarters	Burlington, North Carolina, U.S
Key people	Adam H. Schechter (president and CEO)
Services	Medical tests Medical laboratory
Revenue	US$12.2 billion (2023)
Operating income	US$726 million (2023)
Net income	US$418 million (2023)
Total assets	US$16.7 billion (2023)
Total equity	US$7.88 billion (2023)
Number of employees	c. 67,000 (2023)
Website	labcorp.com
Footnotes / references [1]

Laboratory Corporation of America Holdings (Labcorp), headquartered in Burlington, North Carolina, provides laboratory services used for diagnosis and healthcare decisions.^[1] It operates one of the largest clinical laboratory networks in the world and has operations in over 100 countries; although its operations are primarily in the U.S.^[1]

Its Diagnostics Laboratories segment operates 2,000 patient service centers (PSCs) with more than 6,000 in-office phlebotomists in the United States. In addition to healthcare testing such as oncology testing, human immunodeficiency virus (HIV) genotyping and phenotyping, it provides testing for: employment, DNA testing to determine parentage and to determine immigration eligibility, environmental issues, wellness, toxicology, pain management, and medical drug monitoring. It also provides 50 tests that patients can complete at home. It processes over 160 million tests per year. Approximately 10% of the division's revenue are from Medicare.^[1]

Its Biopharma Laboratory Services segment provides drug development, medical device and diagnostic development services to pharmaceutical, biotechnology, medical device, and diagnostic companies.^[1] In 2023, this division provided support to 84% of the new drugs and therapeutic products approved by the Food and Drug Administration.^[1]

Labcorp performs its largest volume of specialty testing at its Center for Esoteric Testing in Burlington, North Carolina.^[2]

Labcorp was an early pioneer of genomic testing using polymerase chain reaction (PCR) technology at its Center for Molecular Biology and Pathology in Research Triangle Park, North Carolina, where it also performs other molecular diagnostics. Labcorp operates the National Genetics Institute, Inc. (NGI), in Los Angeles, California, which develops PCR testing methods.^[3]