Labcorp Holdings Inc. - LH STOCK NEWS

Labcorp (NYSE: LH), a global leader in innovative laboratory services, has announced it will release its third quarter 2024 financial results on Thursday, October 24, 2024, before the market opens. The company will host a conference call and webcast at 9 a.m. ET on the same day to discuss the results.

Investors can access the earnings press release and financial information on the Labcorp Investor Relations website. The call will be webcast live, and participants can register for dial-in access. A replay of the webcast will be available approximately two hours after the event and will remain accessible until September 10, 2025.

Ovia Health by Labcorp has announced the expansion of its women's health solutions with a new Postpartum Experience program. This 12-month digital solution, available from October 2024, is designed to help women manage various aspects of the postpartum period. Key features include:

1. Personalized Recovery Modes tailored to delivery type and complications
2. Symptom Tracking and Critical Alerts for monitoring risk factors
3. Mental Health Support with screening tools and health programs

The program aims to address the gap in postpartum care, as many women do not attend even one postpartum appointment due to various barriers. Ovia's solution aligns with ACOG's recommendation for ongoing postpartum care and supports women in managing potential complications and conditions that can have life-long implications.

Labcorp Holdings Inc. (NYSE:LH) has announced the pricing of a $2 billion senior notes offering through its subsidiary, Laboratory of America Holdings (LCAH). The offering consists of three tranches:

• $650 million of 4.350% Senior Notes due 2030
• $500 million of 4.550% Senior Notes due 2032
• $850 million of 4.800% Senior Notes due 2034

The notes will bear interest from September 23, 2024, payable semi-annually. LCAH plans to use the net proceeds to redeem or repay existing indebtedness, including $400 million of 2.30% Senior Notes due December 2024 and $1 billion of 3.60% Senior Notes due February 2025. Additionally, $350 million will be used to repay borrowings under its revolving credit facility, with any remaining funds for general corporate purposes.

Labcorp (NYSE: LH) has completed the acquisition of select assets from BioReference Health, a subsidiary of OPKO Health (Nasdaq: OPK), for $237.5 million. The deal includes BioReference Health's laboratory testing businesses in clinical diagnostics and reproductive and women's health outside of New York and New Jersey, generating approximately $100 million in annual revenue. This acquisition aims to enhance Labcorp's laboratory services network and expand access to its clinical services.

The transaction is expected to provide patients, physicians, and customers with greater access to Labcorp's comprehensive laboratory services and expanded testing capabilities. OPKO Health views this sale as a strategic move to improve efficiencies and enhance productivity of BioReference Health's operations, focusing on their core clinical diagnostics in New York and New Jersey and higher value testing segments.

Labcorp (NYSE: LH), a leading global provider of innovative laboratory services, has announced its participation in the Baird 2024 Global Healthcare Conference. Members of Labcorp's executive management team are scheduled to deliver a presentation on Tuesday, September 10, at 3:10 p.m. ET.

This event provides an opportunity for Labcorp to showcase its expertise and discuss industry trends with investors and healthcare professionals. The conference, organized by Baird, is a significant platform for companies in the healthcare sector to share insights and connect with stakeholders.

Labcorp's involvement in this conference underscores its position as a key player in the laboratory services industry and its commitment to engaging with the investment community.

Labcorp (NYSE: LH) has completed its acquisition of select assets from Invitae (OTC:NVTAQ), a leading medical genetics company. This strategic move extends Labcorp's leadership in genetic testing solutions, particularly in oncology and select rare diseases. The acquisition aims to enhance Labcorp's specialty testing capabilities and improve its ability to utilize genetic data in clinical trials and treatment regimens.

By integrating Invitae's genetic testing technology with Labcorp's existing capabilities, the company will offer more comprehensive insights for patients, from testing to diagnosis and treatment. This collaboration is expected to support patients, clinicians, and pharmaceutical partners across the continuum of care, including therapy development, patient diagnosis, and personalized care.

Labcorp (NYSE: LH) has received FDA De Novo marketing authorization for PGDx elio™ plasma focus Dx, the industry's first and only kitted, pan-solid tumor liquid biopsy test. This innovative test enables tumor mutation profiling from a simple blood draw, offering a convenient solution when tissue samples are or unavailable. The test uses next-generation sequencing to detect various genetic alterations in 33 genes, including single nucleotide variants, insertions, deletions, copy number amplifications, and translocations.

PGDx elio plasma focus Dx complements Labcorp's existing tissue-based test, allowing laboratories to perform both tissue and liquid genomic profiling on the same instrument. This integration streamlines workflows and provides critical data for personalized cancer treatments. The test targets guideline-recommended biomarkers and uses automated bioinformatics for faster results, enhancing oncologists' ability to make timely treatment decisions.

Labcorp (NYSE: LH) announced strong Q2 2024 results and updated full-year guidance. Revenue increased 6.2% to $3.22 billion, driven by organic growth and acquisitions. Diluted EPS from continuing operations rose to $2.43, while adjusted EPS reached $3.94. The company updated its 2024 guidance, projecting revenue growth of 6.4% to 7.5% and adjusted EPS of $14.30 to $14.90.

Labcorp expanded its leadership in key therapeutic areas and strengthened its position through acquisitions and innovative solutions. Notable developments include FDA approval for a companion diagnostic, introduction of new tests, and expansion of strategic service offerings. The company also increased its share repurchase authorization by $1.0 billion to $1.4 billion.

Labcorp (NYSE: LH) has expanded its collaboration with Ultima Genomics to advance whole genome sequencing (WGS) applications and oncology testing capabilities. The partnership will utilize Ultima's UG 100™ sequencing solution and ppmSeq™ technology to explore new clinical applications, including molecular residual disease (MRD) detection in early-stage solid tumor cancers.

Labcorp recently introduced Labcorp® Plasma Detect™, a WGS-based circulating tumor DNA MRD solution. Preliminary data suggests that combining Plasma Detect with Ultima's technology could improve sensitivity, specificity, and cost-effectiveness in detecting rare variants at extremely low limits. This collaboration aims to transform oncology testing by increasing efficiency, scalability, and affordability of genetic testing in areas with significant unmet needs.