| Market Capitalization (Millions $) |
19,267 |
| Shares
Outstanding (Millions) |
84 |
| Employees |
70,000 |
| Revenues (TTM) (Millions $) |
13,009 |
| Net Income (TTM) (Millions $) |
747 |
| Cash Flow (TTM) (Millions $) |
982 |
| Capital Exp. (TTM) (Millions $) |
490 |
Labcorp Holdings Inc
Company Profile: Labcorp Holdings Inc.
Overview:
Labcorp Holdings Inc. headquartered in Burlington, North Carolina, stands as the second largest independent clinical laboratory company in the United States. The company operates a national network of laboratories offering more than 4,400 clinical laboratory tests, integral to routine testing, patient diagnosis, and monitoring and treating diseases.
Services Offered:
Labcorp provides an extensive range of laboratory services which include:
- Clinical Testing: Routine laboratory tests performed on blood, urine, and other body fluids, as well as anatomical pathology testing.
- Specialized Testing: Services include oncology testing, HIV genotyping and phenotyping, diagnostic genetics, and participation in clinical research trials.
- Genomic and Advanced Testing: Leading the market in genomic testing technologies, with a strong focus on infectious diseases and cancer diagnostics.
Acquisitions:
To expand its testing capabilities, Labcorp has acquired several companies, including Dynacare Inc. and DIANON Systems, enhancing its specialty and niche businesses.
Operations:
Labcorp operates 31 primary testing facilities and over 1,200 service sites, including branches, patient service centers, and STAT laboratories. The companys in-house courier system ensures efficient specimen transport to its laboratories for testing.
Compliance and Ethics:
Labcorp is committed to maintaining the highest quality standards in laboratory services, adhering to all relevant federal, state, and local laws. The company has a stringent Code of Business Conduct and Ethics applicable to all employees and board members.
Industry Context:
The clinical laboratory testing market is vital for healthcare providers, assisting in diagnosing, evaluating, and monitoring patients health. Labcorp competes primarily with hospital-based laboratories and other independent clinical laboratories, such as Quest Diagnostics.
Client Base:
Labcorp serves a diverse clientele, including independent physicians, hospitals, HMOs, and managed care organizations, as well as governmental agencies and large employers. The company typically bills for services on a fee-for-service basis, with negotiations based on customer fee schedules.
Strategic Objectives:
Labcorp aims to grow its leadership in genomic and advanced testing technologies while broadening its testing services through continued research, development, and selective acquisitions. The company strives to develop and bring to market innovative testing technologies, enhancing patient and physician experiences.
Conclusion:
Labcorp Holdings Inc. is a prominent player in the clinical laboratory industry, poised for continued growth through innovation and strategic expansions in testing capabilities, supporting healthcare providers in delivering exceptional patient care.
Company Address: 358 South Main Street Burlington 27215 NC
Company Phone Number: 229-1127 Stock Exchange / Ticker: NYSE LH
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