Laboratory Corp American Holdings is a leading global life sciences company that offers comprehensive laboratory services, including diagnostic testing and drug development support
They operate advanced clinical laboratories that conduct a wide array of tests, specializing in areas such as genetics, infectious diseases, and routine screenings. The company also provides end-to-end solutions for the pharmaceutical and biotechnology industries, assisting in the development of new therapies and drugs through clinical trial testing and regulatory support. By leveraging cutting-edge technology and a vast network of resources, Laboratory Corp aims to improve healthcare outcomes and enhance patient care through accurate and timely laboratory results.
Praia Health, the consumer experience orchestration platform for health systems, is pleased to announce it has secured a strategic investment from the Labcorp Venture Fund and will collaborate with Labcorp, a global leader of innovative and comprehensive laboratory services, to streamline and personalize the patient experience for lab orders and testing within select health systems.
NOWDiagnostics, Inc. (NOWDx), a developer of over-the-counter (OTC) and point-of-care (POC) diagnostic tests, today announced that Labcorp, a global leader of innovative and comprehensive laboratory services, will be the exclusive U.S. distributor of its First To Know® Syphilis Test in professional and healthcare settings. Through Labcorp’s extensive distribution network and trusted presence in clinical settings, this collaboration will expand access to the syphilis test that provides results in 15 minutes with as little as a drop of blood. Labcorp plans to offer the test to professionals and hospital settings by the end of 2024 and directly to patients through Labcorp OnDemand in 2025.
Labcorp considers boosting its mpox testing capacity as the WHO declares a global health emergency. Companies like Roche and Quest Diagnostics are also monitoring demand and expanding testing services.
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LabCorp reported Q2 2024 adjusted EPS of $3.94, surpassing expectations of $3.78. Sales increased by 6.2% to $3.22 billion, driven by organic revenue growth and acquisitions. LabCorp revised its 2024 EPS outlook to $14.30-$14.90 and raised revenue growth projections to 6.4%-7.5%.
Intelligent Bio Solutions Inc. (NASDAQINBS) is a medical technology firm at the forefront of developing and marketing rapid, intelligent, cutting-edge, and non-intrusive drug testing and health screening solutions. The company is actively involved in commercializing its smart fingerprinting device for drug testing, which has gained rapid traction in the healthcare market segment.
Intelligent Bio Solutions (Nasdaq: INBS) is a medical technology company developing and commercializing innovative, intelligent, rapid, noninvasive testing solutions.
Labcorp beats Q1 sales estimates, driven by organic growth and acquisitions. Revised 2024 guidance projects higher EPS and sales growth. The acquisition of Invitae is expected to bolster Labcorp's specialty testing capabilities.
Xcell Biosciences Inc. (Xcellbio), an instrumentation company focused on cell and gene therapy applications, today announced it has added new elements to its research collaboration agreement with Labcorp, a global leader of innovative and comprehensive laboratory services. Through the expanded collaboration, Labcorp will participate in the beta program for Xcellbio’s clinical manufacturing line of AVATAR™ instruments and has been given an observer seat on the company’s board of directors. In exchange, Labcorp has increased its strategic investment in Xcellbio. Financial details of the investment were not disclosed. The companies will be jointly presenting results from their existing cell and gene therapy collaboration at the upcoming annual meeting of the American Association for Cancer Research (AACR).
Labcorp acquires certain operations of Opko Health subsidiary BioReference Health. The assets Labcorp is acquiring generate about $100 million in annual revenue, with the transaction valued at $237.5 million.
