Burlington, NC, United States
Burlington, NC, United States

Laboratory Corporation of America Holdings, more commonly known as LabCorp, is an American S&P 500 company headquartered in Burlington, North Carolina. It operates one of the largest clinical laboratory networks in the world, with a United States network of 36 primary laboratories. Before a merger with National Health Laboratory in 1995, the company operated under the name Roche BioMedical. LabCorp performs its largest volume of specialty testing at its Center for Esoteric Testing in Burlington, North Carolina, where the company is headquartered.LabCorp was an early pioneer of genomic testing using polymerase chain reaction technology, at its Center for Molecular Biology and Pathology in Research Triangle Park, North Carolina, where it also performs other molecular diagnostics. It also does oncology testing, human immunodeficiency virus genotyping and phenotyping.LabCorp also operates the National Genetics Institute, Inc. in Los Angeles, California which develops PCR testing methods.LabCorp's ViroMed facility -- originally in Minnetonka, Minnesota -- and now operation under the ViroMed label but housed in Burlington, NC performs real-time PCR molecular microbial testing using Laboratory-Developed tests, developed at ViroMed.LabCorp also provides testing in Puerto Rico and, outside the United States, in three Canadian provinces.LabCorp Utilizes 7 PA-31-350's and 1 PC-12 Aircraft on nightly runs from Burlington, NC for use on the east coast.LabCorp has been criticized for its practice of paying the salaries of genetic counselors in hospitals and doctors' offices, which is perceived to be a possible conflict of interest. Wikipedia.


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BURLINGTON, N.C.--(BUSINESS WIRE)--Laboratory Corporation of America® Holdings (LabCorp® or the “Company”) (NYSE: LH) today announced results for the first quarter ended March 31, 2017, and updated 2017 guidance. “We made strong progress on our enterprise-wide initiatives and turned in an outstanding performance in the Diagnostics business during the quarter,” said David P. King, chairman and chief executive officer. “Customers continued to embrace our integrated solutions, as evidenced by two


TORONTO, ON--(Marketwired - May 08, 2017) - The number of oncology clinical trials has increased exponentially in recent years, putting ever more pressure on increasing clinical trial efficiency by reducing costs and timelines. Patient recruitment swallows 40% of trial costs, yet only 10-17% of studies enroll on time and approximately 11% of sites in any given study fail to enroll a single patient. The excessive amount of time taken for patient recruitment, which can reach 60% of the total trial time, can be drastically reduced by identifying experienced investigators, ensuring access to specific patient pools and seeking sufficient infrastructure for optimal trial execution. Join this webinar as Covance highlights proven solutions for overcoming the enormous challenge of study planning and patient recruitment. Also, learn more about how the Covance informatics platform solves patient recruitment challenges by using strategic, evidence-based methodologies. Xcellerate® Trial Design is the most extensive knowledgebase in the industry, making powerful use of a combination of LabCorp and Covance data on over 13 billion lab tests, 142 million de-identified patients from over 750K healthcare providers in Labcorp; 175,000 unique investigators and over 15,000 protocols in CLS. These approaches are proven to accelerate patient enrollment, reduce the proportion of non-recruiting sites leading to shorter timelines and reduced costs. The live broadcast takes place on May 24, 2017 with featured speakers Dr. Caroline Morvan-Beccavin, Executive Director, Global Portfolio Oversight, Oncology and Michelle Jones, Senior Director of Clinical Informatics for the Clinical Business Informatics and Solutions division at Covance. For more information or to register for this free webinar visit: Evidence-Based Approaches for Accelerating Patient Enrollment in Oncology. Xtalks, powered by Honeycomb Worldwide Inc., is a leading provider of educational webinars to the global Life Sciences community. Every year thousands of industry practitioners (from pharmaceutical & biotech companies, to private & academic research institutions, healthcare centers, etc.) turn to Xtalks for access to quality content. Xtalks helps Life Science professionals stay current with industry developments, trends and regulations. Xtalks webinars also provide perspectives on key issues from top industry thought leaders and service providers. To learn more about Xtalks visit http://xtalks.com


Encompass Compliance Corp. (OTC: ENCC) has been selected by one of the largest drug testing laboratories (Labs) to provide real time industry updates and Risk Shield Services to their respective customers. The official announcement will be made at DATIA May 16-18th. Read this and more news for Encompass Compliance at: http://marketnewsupdates.com/news/encc.html. This Lab provides products and services to over 200,000 companies. It is important to both the Lab and their customers that state specific compliance services are provided to keep up with the rapidly changing legal landscape. Millions of employers use lab based drug testing for THC, alcohol, cocaine, amphetamines, methamphetamines, opiates, benzodiazepines, propoxyphene, PCP, oxycodone, morphine, ecstasy, methadone, buprenorphine, barbiturates, to provide drug free workplaces. "Our offerings allow employers to properly follow state laws as they change and utilize our Risk Shield Service to update and maintain their compliance programs, for drug and alcohol testing in the workplace," says Encompass CEO Richard Sharp. Encompass Compliance Corp. is the most comprehensive provider of workplace drug and alcohol testing compliance services, with over 30 years of experience. We are dedicated to providing employers with the tools necessary to mitigate regulatory and compliance risk. Our solutions provide organizations with up to date policies, a comprehensive resource center and real-time monitoring for drug and alcohol testing orders. In other industry news and developments: Quest Diagnostics (NYSE: DGX), the world's leading provider of diagnostic information services, and PeaceHealth, a mission-based not-for-profit healthcare system, this week announced that they have completed a previously announced two-part agreement designed to enhance the delivery of innovative, convenient and high-value diagnostic information services to communities in Oregon, Washington and Alaska. This includes the acquisition by Quest Diagnostics of the outreach laboratory services of PeaceHealth Laboratories serving physicians and patients in Washington and Oregon. Quest also now begins to manage 11 laboratories serving PeaceHealth's medical centers in Washington, Oregon and Alaska. LabCorp® (NYSE: LH) yesterday announced a significant enhancement to its proprietary VistaSeqSM Hereditary Cancer portfolio, with ten new test panels focusing on the risk of specific hereditary cancer syndromes. The number of cancer genes that can be assessed has also increased to 59 to reflect advances in the understanding of cancer genetics since the panel was first introduced in August 2015. The VistaSeq Hereditary Cancer Panel detects inherited genetic mutations across multiple genes, which have been associated with an increased risk of developing hereditary cancers. The tests are available from LabCorp and its Integrated Genetics and Integrated Oncology specialty laboratories. Alere Inc. (NYSE: ALR), a global leader in rapid diagnostics, recently announced the launch of its Alere™ Malaria Ag P.f, a major technological breakthrough in high-sensitivity rapid testing versus currently available malaria RDTs (rapid diagnostic tests). The Alere Malaria Ag P.f offers a greater than tenfold improvement in the detection of histidine rich protein II (HRP-II) antigen of Plasmodium falciparum, which will enable better identification of individuals with very low parasitemia, many of whom may be without evident symptoms of malaria infection. Lantheus Holdings, Inc. (NASDAQ: LNTH), parent company of Lantheus Medical Imaging, Inc. (collectively, 'Lantheus'), and GE Healthcare (GE), recently announced the signing of a definitive license agreement (the 'definitive agreement') for the continued Phase III development and worldwide commercialization of flurpiridaz F 18, an investigational positron emission tomography (PET) myocardial perfusion imaging (MPI) agent that may improve the diagnosis of coronary artery disease (CAD), the most common form of heart disease. The definitive agreement follows the signing of a term sheet previously announced in late February 2017. DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed MNU has been compensated two thousand nine hundred dollars for news coverage of the current press release issued by Encompass Compliance Corp. by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE. This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.


Encompass Compliance Corp. (OTC: ENCC) has been selected by one of the largest drug testing laboratories (Labs) to provide real time industry updates and Risk Shield Services to their respective customers. The official announcement will be made at DATIA May 16-18th. Read this and more news for Encompass Compliance at: http://marketnewsupdates.com/news/encc.html. This Lab provides products and services to over 200,000 companies. It is important to both the Lab and their customers that state specific compliance services are provided to keep up with the rapidly changing legal landscape. Millions of employers use lab based drug testing for THC, alcohol, cocaine, amphetamines, methamphetamines, opiates, benzodiazepines, propoxyphene, PCP, oxycodone, morphine, ecstasy, methadone, buprenorphine, barbiturates, to provide drug free workplaces. "Our offerings allow employers to properly follow state laws as they change and utilize our Risk Shield Service to update and maintain their compliance programs, for drug and alcohol testing in the workplace," says Encompass CEO Richard Sharp. Encompass Compliance Corp. is the most comprehensive provider of workplace drug and alcohol testing compliance services, with over 30 years of experience. We are dedicated to providing employers with the tools necessary to mitigate regulatory and compliance risk. Our solutions provide organizations with up to date policies, a comprehensive resource center and real-time monitoring for drug and alcohol testing orders. In other industry news and developments: Quest Diagnostics (NYSE: DGX), the world's leading provider of diagnostic information services, and PeaceHealth, a mission-based not-for-profit healthcare system, this week announced that they have completed a previously announced two-part agreement designed to enhance the delivery of innovative, convenient and high-value diagnostic information services to communities in Oregon, Washington and Alaska. This includes the acquisition by Quest Diagnostics of the outreach laboratory services of PeaceHealth Laboratories serving physicians and patients in Washington and Oregon. Quest also now begins to manage 11 laboratories serving PeaceHealth's medical centers in Washington, Oregon and Alaska. LabCorp® (NYSE: LH) yesterday announced a significant enhancement to its proprietary VistaSeqSM Hereditary Cancer portfolio, with ten new test panels focusing on the risk of specific hereditary cancer syndromes. The number of cancer genes that can be assessed has also increased to 59 to reflect advances in the understanding of cancer genetics since the panel was first introduced in August 2015. The VistaSeq Hereditary Cancer Panel detects inherited genetic mutations across multiple genes, which have been associated with an increased risk of developing hereditary cancers. The tests are available from LabCorp and its Integrated Genetics and Integrated Oncology specialty laboratories. Alere Inc. (NYSE: ALR), a global leader in rapid diagnostics, recently announced the launch of its Alere™ Malaria Ag P.f, a major technological breakthrough in high-sensitivity rapid testing versus currently available malaria RDTs (rapid diagnostic tests). The Alere Malaria Ag P.f offers a greater than tenfold improvement in the detection of histidine rich protein II (HRP-II) antigen of Plasmodium falciparum, which will enable better identification of individuals with very low parasitemia, many of whom may be without evident symptoms of malaria infection. Lantheus Holdings, Inc. (NASDAQ: LNTH), parent company of Lantheus Medical Imaging, Inc. (collectively, 'Lantheus'), and GE Healthcare (GE), recently announced the signing of a definitive license agreement (the 'definitive agreement') for the continued Phase III development and worldwide commercialization of flurpiridaz F 18, an investigational positron emission tomography (PET) myocardial perfusion imaging (MPI) agent that may improve the diagnosis of coronary artery disease (CAD), the most common form of heart disease. The definitive agreement follows the signing of a term sheet previously announced in late February 2017. DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed MNU has been compensated two thousand nine hundred dollars for news coverage of the current press release issued by Encompass Compliance Corp. by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE. This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.


Global Noninvasive Prenatal Testing (NIPT) Market by Diagnostic Tests, Geography, Trends and Forecast to 2021, New Report by iHealthcareAnalyst, Inc. Noninvasive Prenatal Testing (NIPT) Market by NIPT-Specific Test Types (BambniTest, Harmony, informaSeq, MaterniT21 PLUS, NIFTY, Panorama, PrenaTest, verify, VisibiliT) and Forecast 2017-2021 Maryland Heights, MO, May 06, 2017 --( Browse Noninvasive Prenatal Testing (NIPT) Market by NIPT-Specific Test Types (BambniTest, Harmony, informaSeq, MaterniT21 PLUS, NIFTY, Panorama, PrenaTest, verify, VisibiliT) and Forecast 2017-2021 report at https://www.ihealthcareanalyst.com/report/non-invasive-prenatal-testing-market/ The global noninvasive prenatal testing market report estimates the market size (Revenue USD million - 2014 to 2021) for market segmentation based on NIPT-specific test types (BambniTest, Harmony, informaSeq, MaterniT21 PLUS, NIFTY, Panorama, PrenaTest, verify, VisibiliT, etc.), and forecasts growth trends (CAGR% - 2017 to 2021). The global noninvasive prenatal testing market report also provides the detailed market landscape, market drivers, restraints, opportunities), market attractiveness analysis and profiles of major competitors in the global market including company overview, financial snapshot, key products, technologies and services offered, and recent developments. The global noninvasive prenatal testing market research report is further segmented by geography into North America (U.S., Canada), Latin America (Brazil, Mexico, Rest of LA), Europe (U.K., Germany, France, Italy, Spain, Rest of EU), Asia Pacific (Japan, China, India, Rest of APAC), and Rest of the World. Major players operating in the global noninvasive prenatal testing market and included in this report are Ariosa Diagnostics, Berry Genomics, BGI Diagnostics, Illumina, Inc., LifeCodexx AG, LabCorp, Natera, Inc., and Sequenom, Inc. 1. Diagnostic Test Type 1.1. BambniTest 1.2. Harmony Test 1.3. informaSeq Test 1.4. MaterniT21 PLUS 1.5. NIFTY Test 1.6. Panorama Test 1.7. PrenaTest 1.8. Verify Test 1.9. VisibiliT Test 1.10. Others 2. Company Profiles 2.1. Ariosa Diagnostics, Inc. 2.2. Berry Genomics Co., Ltd. 2.3. BGI Diagnostics 2.4. Illumina, Inc. 2.5. Laboratory Corporation of America Holdings (LabCorp) 2.6. LifeCodexx AG 2.7. Natera, Inc. 2.8. Sequenom, Inc. To request Table of Contents and Sample Pages of this report visit: https://www.ihealthcareanalyst.com/report/non-invasive-prenatal-testing-market/ About Us iHealthcareAnalyst, Inc. is a global healthcare market research and consulting company providing market analysis, and competitive intelligence services to global clients. The company publishes syndicate, custom and consulting grade healthcare reports covering animal healthcare, biotechnology, clinical diagnostics, healthcare informatics, healthcare services, medical devices, medical equipment, and pharmaceuticals. In addition to multi-client studies, we offer creative consulting services and conduct proprietary single-client assignments targeted at client’s specific business objectives, information needs, time frame and budget. Please contact us to receive a proposal for a proprietary single-client study. Contact Us iHealthcareAnalyst, Inc. 2109, Mckelvey Hill Drive, Maryland Heights, MO 63043 United States Email: sales@ihealthcareanalyst.com Website: https://www.ihealthcareanalyst.com Maryland Heights, MO, May 06, 2017 --( PR.com )-- Prenatal diagnosis or prenatal screening refers to testing for diseases or conditions in a fetus or embryo before it is born. Non-invasive prenatal testing (NIPT) test can detect birth defects such as neural tube defects, Down syndrome, chromosome abnormalities, genetic disorders and other conditions, such as spina bifida, cleft palate, Tay–Sachs disease, sickle cell anemia, thalassemia, cystic fibrosis, Muscular dystrophy, and fragile X syndrome. NIPT is used for screening pregnant women at high risk of developing fetal chromosomal aneuploidies such as Down syndrome (trisomy 21), Edwards syndrome (trisomy 18), Patau syndrome (trisomy 13), and Turner syndrome (monosomy X) along with fetal sex determination. Amniocentesis, chorionic villus sampling (CVS), maternal serum screening, and nuchal translucency (NT) scan have been the primary diagnostic and screening methods for chromosomal abnormalities. NIPT is an innovative way of screening pregnancies for fetal chromosomal aneuploidies by analyzing fetal cell-free DNA circulating in maternal blood.Browse Noninvasive Prenatal Testing (NIPT) Market by NIPT-Specific Test Types (BambniTest, Harmony, informaSeq, MaterniT21 PLUS, NIFTY, Panorama, PrenaTest, verify, VisibiliT) and Forecast 2017-2021 report at https://www.ihealthcareanalyst.com/report/non-invasive-prenatal-testing-market/The global noninvasive prenatal testing market report estimates the market size (Revenue USD million - 2014 to 2021) for market segmentation based on NIPT-specific test types (BambniTest, Harmony, informaSeq, MaterniT21 PLUS, NIFTY, Panorama, PrenaTest, verify, VisibiliT, etc.), and forecasts growth trends (CAGR% - 2017 to 2021).The global noninvasive prenatal testing market report also provides the detailed market landscape, market drivers, restraints, opportunities), market attractiveness analysis and profiles of major competitors in the global market including company overview, financial snapshot, key products, technologies and services offered, and recent developments. The global noninvasive prenatal testing market research report is further segmented by geography into North America (U.S., Canada), Latin America (Brazil, Mexico, Rest of LA), Europe (U.K., Germany, France, Italy, Spain, Rest of EU), Asia Pacific (Japan, China, India, Rest of APAC), and Rest of the World.Major players operating in the global noninvasive prenatal testing market and included in this report are Ariosa Diagnostics, Berry Genomics, BGI Diagnostics, Illumina, Inc., LifeCodexx AG, LabCorp, Natera, Inc., and Sequenom, Inc.1. Diagnostic Test Type1.1. BambniTest1.2. Harmony Test1.3. informaSeq Test1.4. MaterniT21 PLUS1.5. NIFTY Test1.6. Panorama Test1.7. PrenaTest1.8. Verify Test1.9. VisibiliT Test1.10. Others2. Company Profiles2.1. Ariosa Diagnostics, Inc.2.2. Berry Genomics Co., Ltd.2.3. BGI Diagnostics2.4. Illumina, Inc.2.5. Laboratory Corporation of America Holdings (LabCorp)2.6. LifeCodexx AG2.7. Natera, Inc.2.8. Sequenom, Inc.To request Table of Contents and Sample Pages of this report visit: https://www.ihealthcareanalyst.com/report/non-invasive-prenatal-testing-market/About UsiHealthcareAnalyst, Inc. is a global healthcare market research and consulting company providing market analysis, and competitive intelligence services to global clients. The company publishes syndicate, custom and consulting grade healthcare reports covering animal healthcare, biotechnology, clinical diagnostics, healthcare informatics, healthcare services, medical devices, medical equipment, and pharmaceuticals.In addition to multi-client studies, we offer creative consulting services and conduct proprietary single-client assignments targeted at client’s specific business objectives, information needs, time frame and budget. Please contact us to receive a proposal for a proprietary single-client study.Contact UsiHealthcareAnalyst, Inc.2109, Mckelvey Hill Drive,Maryland Heights, MO 63043United StatesEmail: sales@ihealthcareanalyst.comWebsite: https://www.ihealthcareanalyst.com


BURLINGTON, N.C.--(BUSINESS WIRE)--LabCorp® (NYSE: LH) today announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, or HSR Act, applicable to LabCorp’s acquisition of Pathology Associates Medical Laboratories, LLC (PAML) has expired. As previously announced, LabCorp, Providence Health & Services (Providence) and Catholic Health Initiatives (CHI) entered into a definitive agreement for LabCorp to acquire all of the ownership interests in PAML, one of the nation's premier medical reference laboratories and a healthcare solutions company jointly owned by Providence and CHI. Expiration of the waiting period satisfies one of the conditions necessary to complete the pending acquisition. The transaction remains subject to other closing conditions, which are expected to be satisfied in the near future. LabCorp (NYSE: LH), an S&P 500 company, is a leading global life sciences company that is deeply integrated in guiding patient care, providing comprehensive clinical laboratory and end-to-end drug development services. With a mission to improve health and improve lives, LabCorp delivers world-class diagnostic solutions, brings innovative medicines to patients faster and uses technology to improve the delivery of care. LabCorp reported net revenues of nearly $9.5 billion for 2016 through the contributions of 52,000 employees in approximately 60 countries. To learn more about LabCorp, visit www.labcorp.com, and to learn more about Covance Drug Development, visit www.covance.com. This press release contains forward-looking statements including with respect to estimated 2017 guidance and the impact of various factors on operating and financial results. Each of the forward-looking statements is subject to change based on various important factors, including without limitation, competitive actions in the marketplace, and adverse actions of governmental and other third-party payers. Actual results could differ materially from those suggested by these forward-looking statements. The Company has no obligation to provide any updates to these forward-looking statements even if its expectations change. Further information on potential factors that could affect operating and financial results is included in the Company’s Form 10-K for the year ended December 31, 2016, and subsequent Forms 10-Q, including in each case under the heading risk factors, and in the Company’s other filings with the SEC. The information in this press release should be read in conjunction with a review of the Company’s filings with the SEC including the information in the Company’s Form 10-K for the year ended December 31, 2016, and subsequent Forms 10-Q, under the heading MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.


News Article | May 4, 2017
Site: www.businesswire.com

BURLINGTON, N.C. & RENTON, Wash. & ENGLEWOOD, Colo.--(BUSINESS WIRE)--LabCorp® (NYSE:LH) has completed the acquisition of Pathology Associates Medical Laboratories (PAML) from former owners Providence Health & Services (Providence) and Catholic Health Initiatives (CHI). PAML, based in Spokane, Washington, is one of the nation’s premier medical reference laboratories and a healthcare solutions company. With the acquisition of PAML, LabCorp assumes PAML’s ownership interests in several joint ventures: Colorado Laboratory Services (CLS), Kentucky Laboratory Services (KLS), MountainStar Clinical Laboratories (MSCL), PACLAB Network Laboratories (PACLAB) and Tri-Cities Laboratory (TCL). In addition, PAML, as a LabCorp subsidiary, has acquired assets of Alpha Medical Laboratories (Alpha), a former PAML-affiliated joint venture, from its hospital owner. “For over three decades, LabCorp has focused on comprehensive, deeply-engaged relationships with health systems and hospitals,” said David P. King, chairman and chief executive officer, LabCorp. “The acquisition of PAML furthers this strategy and aligns LabCorp with Providence and CHI, two leading, innovative health systems, and deepens our engagement and growth opportunities with a number of important community-based hospitals across multiple states.” LabCorp’s acquisition of PAML represents the first step in completing the transaction. Through 2017 and into 2018, LabCorp will acquire the ownership interests in CLS, KLS and PACLAB from their hospital co-owners. The hospital partners in MSCL and in TCL continue to evaluate future options for their interests in those joint ventures, which may include a sale to LabCorp. PAML and the joint ventures serve customers in Colorado, Idaho, Kentucky, Montana, Oregon, Utah and Washington. Operations of each joint venture, including the menu of services provided, will remain substantially the same until the joint venture transition is complete and ownership has been transferred. There will be no significant changes to operations or services at PAML until all joint venture transactions are complete. The organizations have been working together to plan and implement a smooth, thoughtful transition that maintains continuity of services for patients, hospitals, clients and clinicians, and provides access to the additional capabilities of LabCorp, including access to clinical trials and research through Covance Drug Development, enhanced IT and data analytics, standardized testing platforms and broad patient access. “PAML and its joint ventures have successfully served our communities and many others for years, and we are proud of the high-quality service they have become known for,” said Mike Butler, president of operations, Providence St. Joseph Health. “Together, LabCorp and PAML will continue and expand delivery of high-quality health care services to our patients, hospitals, clients and clinicians.” Through and after the completion of the related joint venture transactions, Providence, CHI and the hospital joint venture owners will continue to provide all existing in-patient hospital laboratory services. PAML, along with LabCorp, will continue to provide the outreach testing services and reference laboratory services currently provided by PAML and the joint ventures. LabCorp and many of the health systems and hospitals that are partnered with PAML are exploring opportunities to collaborate on projects involving LabCorp’s differentiated capabilities. “As part of our mission, CHI is focused on building healthier communities,” said Kevin Lofton, CEO, Catholic Health Initiatives. “We are confident that LabCorp, as PAML’s new owner, will serve the best interests of all who have relied on us to meet their health care needs through comprehensive, high-quality laboratory services.” “This acquisition strengthens LabCorp’s relationships with anchor health systems and expands LabCorp’s geographic presence in important existing markets, allowing LabCorp to support each health system and its existing customers with expanded offerings,” said King. “It was made possible by the mutual commitment among all the parties to provide high-quality, compassionate care, and to improve the health and lives of the patients we serve and the communities where we operate.” Providence Health & Services is committed to improving the health of the communities it serves, especially for those who are poor and vulnerable. In 2016, Providence provided nearly $1.2 billion in community benefit to help meet the needs of its communities, both today and into the future. Providence Health & Services is a part of Providence St. Joseph Health, a family of organizations that includes 50 hospitals, 829 physician clinics, senior services, supportive housing and many other health and educational services. The health system and its partners employ more than 100,000 caregivers serving communities across seven states – Alaska, California, Montana, New Mexico, Oregon, Texas and Washington. Along with Saint Joseph Health, PSJH includes: in Texas, Covenant Health and Covenant Medical Group; in California, Facey Medical Foundation, Hoag Memorial Hospital Presbyterian and St. Joseph Heritage Healthcare; and in Washington, Kadlec Regional Medical Center, Pacific Medical Centers and Swedish Health Services. Catholic Health Initiatives, a nonprofit, faith-based health system formed in 1996 through the consolidation of four Catholic health systems, expresses its mission each day by creating and nurturing healthy communities in the hundreds of sites across the nation where we provide care. The nation’s third-largest nonprofit health system, Englewood, Colorado-based CHI operates in 18 states and comprises 104 hospitals, including four academic medical centers and major teaching hospitals as well as 30 critical-access facilities; community health-services organizations; accredited nursing colleges; home-health agencies; senior living communities; and other facilities and services that span the inpatient and outpatient continuum of care. In fiscal year 2016, CHI provided more than $1.1 billion in financial assistance and community benefit – a 13% increase over the previous year – for programs and services for the poor, free clinics, education and research. Financial assistance and community benefit totaled more than $2 billion with the inclusion of the unpaid costs of Medicare. The health system, which generated operating revenues of $15.9 billion in fiscal year 2016, has total assets of approximately $22.7 billion. LabCorp (NYSE: LH), an S&P 500 company, is a leading global life sciences company that is deeply integrated in guiding patient care, providing comprehensive clinical laboratory and end-to-end drug development services. With a mission to improve health and improve lives, LabCorp delivers world-class diagnostic solutions, brings innovative medicines to patients faster and uses technology to improve the delivery of care. LabCorp reported net revenues of nearly $9.5 billion for 2016 through the contributions of 52,000 employees in approximately 60 countries. To learn more about LabCorp, visit www.labcorp.com, and to learn more about Covance Drug Development, visit www.covance.com. This press release contains forward-looking statements including with respect to estimated 2017 guidance and the impact of various factors on operating and financial results. Each of the forward-looking statements is subject to change based on various important factors, including without limitation, competitive actions in the marketplace, and adverse actions of governmental and other third-party payers. Actual results could differ materially from those suggested by these forward-looking statements. The Company has no obligation to provide any updates to these forward-looking statements even if its expectations change. Further information on potential factors that could affect operating and financial results is included in the Company’s Form 10-K for the year ended December 31, 2016, and subsequent Forms 10-Q, including in each case under the heading risk factors, and in the Company’s other filings with the SEC. The information in this press release should be read in conjunction with a review of the Company’s filings with the SEC including the information in the Company’s Form 10-K for the year ended December 31, 2016, and subsequent Forms 10-Q, under the heading MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.


News Article | May 4, 2017
Site: www.businesswire.com

BURLINGTON, N.C.--(BUSINESS WIRE)--LabCorp® (NYSE: LH) today announced that its Annual Meeting of Shareholders will be webcast live beginning May 11, 2017 at 9:00 a.m. Eastern Daylight Time via the Company website at www.labcorp.com. An archived replay of the audio webcast will be available for one year. LabCorp (NYSE: LH), an S&P 500 company, is a leading global life sciences company that is deeply integrated in guiding patient care, providing comprehensive clinical laboratory and end-to-end drug development services. With a mission to improve health and improve lives, LabCorp delivers world-class diagnostic solutions, brings innovative medicines to patients faster and uses technology to provide better care. LabCorp reported net revenues of nearly $9.5 billion for 2016 through the contributions of 52,000 employees in approximately 60 countries. To learn more about LabCorp, visit www.labcorp.com, and to learn more about Covance Drug Development, visit www.covance.com. This press release contains forward-looking statements including with respect to estimated 2017 guidance and the impact of various factors on operating and financial results. Each of the forward-looking statements is subject to change based on various important factors, including without limitation, competitive actions in the marketplace, and adverse actions of governmental and other third-party payers. Actual results could differ materially from those suggested by these forward-looking statements. The Company has no obligation to provide any updates to these forward-looking statements even if its expectations change. Further information on potential factors that could affect operating and financial results is included in the Company’s Form 10-K for the year ended December 31, 2016, and subsequent Forms 10-Q, including in each case under the heading risk factors, and in the Company’s other filings with the SEC. The information in this press release should be read in conjunction with a review of the Company’s filings with the SEC including the information in the Company’s Form 10-K for the year ended December 31, 2016, and subsequent Forms 10-Q, under the heading MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.


BURLINGTON, N.C. & RENTON, Wash. & ENGLEWOOD, Colo.--(BUSINESS WIRE)--Laboratory Corporation of America® Holdings (LabCorp®) (NYSE:LH), Providence Health & Services (Providence) and Catholic Health Initiatives (CHI), today announced that they have entered into a definitive agreement for LabCorp to acquire all of the ownership interest in Pathology Associates Medical Laboratories, LLC, (PAML), one of the nation’s premier medical reference laboratories and a healthcare solutions company jointly owned by Providence and CHI. In addition to PAML, LabCorp will also acquire PAML’s interest in the following joint ventures: Colorado Laboratory Services (CLS), Kentucky Laboratory Services (KLS), MountainStar Clinical Laboratories (MSCL), PACLAB Network Laboratories (PACLAB) and Tri-Cities Laboratory (TCL). “This signature transaction strengthens LabCorp’s relationships with anchor health systems and expands LabCorp’s geographic presence into important markets,” said David P. King, chairman and chief executive officer, LabCorp. “We have always admired the commitment of PAML, its owners and its joint venture partners to providing high-quality, community-based laboratory services. LabCorp shares that same vision and commitment, and is excited to work with these industry-leading health systems and hospitals as partners to continue to provide these services.” Headquartered in Spokane, Washington, PAML and its joint ventures provide laboratory services in California, Colorado, Idaho, Kentucky, Montana, Oregon, Utah and Washington. PAML is an industry leader in joint venture partnerships with community-based hospitals. The transactions involving PAML and the PAML-affiliated joint ventures expand LabCorp’s geographic scope in the Pacific Northwest, Midwest and South. LabCorp currently provides services to several Swedish Medical Center facilities in Seattle, a partner within the Providence system. “We are proud of the high-quality service PAML and its joint ventures have provided,” said Mike Butler, president of operations, chief executive, Providence Health & Services. “We routinely evaluate how to best deliver health care services to the communities we serve and LabCorp will continue to meet the rapidly changing needs of patients and providers.” In addition, the hospital co-owners of CLS, based in Lakewood, Colorado; KLS, based in Lexington, Kentucky; and PACLAB Network Laboratories, based in Renton, Washington; have all agreed to sell their joint venture interests to LabCorp. The hospital partners in MSCL, based in Salt Lake City, Utah, and in TCL, based in Kennewick, Washington, continue to evaluate future options for their ownership of the joint venture, which may include a sale to LabCorp. The hospital co-owner of Alpha Medical Laboratory (Alpha), a PAML-affiliated joint venture based in Coeur d’Alene, Idaho, intends to acquire PAML’s interest in Alpha; after which it will sell the joint venture assets to LabCorp upon final board approval. After the staged transactions are complete, Providence, CHI and the hospital joint venture owners will continue to provide all existing in-patient hospital laboratory services. LabCorp will then continue to provide the outreach testing services and reference laboratory services currently provided by PAML and the joint ventures that are part of the overall transactions. The transactions do not include any PAML joint venture services in California. “As part of our mission, CHI is focused on building healthier communities. This goal guides our business decisions in the constantly changing dynamics and demands of health care today,” said Kevin Lofton, CEO, Catholic Health Initiatives. “We are confident that our selection of LabCorp to be PAML’s new owner will serve the best interests of all who rely on us to meet their health care needs through comprehensive, high quality laboratory services.” The transactions are subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The parties anticipate that transaction closings will begin in 2017 and continue into 2018. There will be no changes to operations or services at PAML or the joint ventures until the applicable transaction is complete. The organizations will work together to plan and implement a smooth, thoughtful transition that maintains continuity of services for patients, hospitals, clients and clinicians while providing direct access to the additional capabilities of LabCorp. Other terms of the transactions were not disclosed and no additional information is available at this time. Providence Health & Services is committed to improving the health of the communities it serves, especially for those who are poor and vulnerable. In 2016, Providence provided nearly $1.2 billion in community benefit to help meet the needs of its communities, both today and into the future. Providence Health & Services is a part of Providence St. Joseph Health, a family of organizations that includes 50 hospitals, 829 physician clinics, senior services, supportive housing and many other health and educational services. The health system and its partners employ more than 100,000 caregivers serving communities across seven states – Alaska, California, Montana, New Mexico, Oregon, Texas and Washington. Along with Saint Joseph Health, PSJH includes: in Texas, Covenant Health and Covenant Medical Group; in California, Facey Medical Foundation, Hoag Memorial Hospital Presbyterian and St. Joseph Heritage Healthcare; and in Washington, Kadlec Regional Medical Center, Pacific Medical Centers and Swedish Health Services. Catholic Health Initiatives, a nonprofit, faith-based health system formed in 1996 through the consolidation of four Catholic health systems, expresses its mission each day by creating and nurturing healthy communities in the hundreds of sites across the nation where we provide care. The nation’s third-largest nonprofit health system, Englewood, Colorado-based CHI operates in 18 states and comprises 103 hospitals, including four academic medical centers and major teaching hospitals as well as 30 critical-access facilities; community health-services organizations; accredited nursing colleges; home-health agencies; senior living communities; and other facilities and services that span the inpatient and outpatient continuum of care. In fiscal year 2016, CHI provided more than $1.1 billion in financial assistance and community benefit – a 13% increase over the previous year -- for programs and services for the poor, free clinics, education and research. Financial assistance and community benefit totaled more than $2 billion with the inclusion of the unpaid costs of Medicare. The health system, which generated operating revenues of $15.9 billion in fiscal year 2016, has total assets of approximately $22.7 billion. Laboratory Corporation of America® Holdings (NYSE: LH), an S&P 500 company, is a world leading life sciences company, providing comprehensive clinical laboratory and end-to-end drug development services. With a mission to improve health and improve lives, LabCorp delivers world-class diagnostic solutions, brings innovative medicines to patients faster and uses technology to provide better care. With net revenue in excess of $9 billion in 2016, LabCorp’s 50,000 employees serve clients in 60 countries. To learn more about LabCorp, visit www.labcorp.com, and to learn more about Covance Drug Development, visit www.covance.com. This press release contains forward-looking statements including with respect to LabCorp’s (the Company) estimated 2017 guidance and the impact of various factors on operating and financial results. Each of the forward-looking statements is subject to change based on various important factors, including without limitation, competitive actions in the marketplace and adverse actions of governmental and other third-party payers. Actual results could differ materially from those suggested by these forward-looking statements. The Company has no obligation to provide any updates to these forward-looking statements even if its expectations change. Further information on potential factors that could affect LabCorp’s operating and financial results is included in the Company’s Form 10-K for the year ended December 31, 2015, and subsequent Forms 10-Q, including in each case under the heading risk factors, and in the Company’s other filings with the SEC. The information in this press release should be read in conjunction with a review of the Company’s filings with the SEC including the information in the Company’s Form 10-K for the year ended December 31, 2015, and subsequent Forms 10-Q, under the heading MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

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