Welcome to our dedicated page for Labcorp Holdings news (Ticker: LH), a resource for investors and traders seeking the latest updates and insights on Labcorp Holdings stock.
Labcorp Holdings Inc. provides laboratory services spanning diagnostics and drug development laboratory capabilities for doctors, hospitals, pharmaceutical companies, researchers and patients. News about LH commonly covers earnings releases and guidance, dividend declarations, specialty and companion diagnostics, oncology testing, drug-screening products, and collaborations that expand access to advanced laboratory services.
Company updates also address Labcorp's Diagnostics Laboratories and Biopharma Laboratory Services activities, including FDA-cleared or FDA-approved tests, pediatric diagnostics development, real-world data platforms, digital pathology and AI-enabled laboratory operations. Recurring announcements connect Labcorp's national diagnostic infrastructure with health systems, biopharmaceutical customers and technology partners.
Labcorp (NYSE: LH) has announced the opening of a new diagnostics laboratory in South Bend, Indiana, aimed at enhancing service levels for patients and physicians in the region. This 25,000-square-foot facility includes advanced capabilities for microbiology testing and STAT testing, expediting results for urgent tests. Currently employing 100 individuals, the lab aims to improve patient diagnoses and outcomes. The opening builds on Labcorp's prior acquisition of South Bend Medical Foundation’s diagnostic business in October 2019, further expanding service access in Indiana and surrounding states.
Labcorp (NYSE: LH) has launched Labcorp OnDemand, a digital platform allowing consumers to purchase popular tests online and choose to collect samples from home or visit one of 2,000 Labcorp Patient Service Centers. The platform includes tests for wellness, allergies, COVID-19, women's health, and fertility, facilitating better health management. Tests are available with zero upfront costs for eligible individuals. The company plans to expand its offerings through healthcare providers and employers later this year.
Big Health announces Gabriela Perez as its new Chief Commercial Officer to lead global commercial growth and strategy. With over 20 years of experience in healthcare technology, Perez previously managed significant growth at Ovia Health, which was acquired by Labcorp (NYSE: LH) in August 2021. She also contributed to Best Doctors, acquired by Teladoc Health (NYSE: TDOC) in June 2017. Under her leadership, Big Health aims to enhance coverage and reimbursement for digital therapeutics, leveraging its innovative products proven effective in mental health treatment.
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Labcorp has launched the Enhanced Liver Fibrosis (ELF™) test, aiming to assess the risk of disease progression in patients with advanced chronic liver disease. This blood test, developed by Siemens Healthineers, has received De Novo marketing authorization from the FDA. It provides a numeric score for patients suffering from nonalcoholic steatohepatitis (NASH), enabling better treatment decisions. Approximately 20 million Americans are affected by NASH, highlighting an urgent need for improved diagnostics in this silent epidemic.
Labcorp's OmniSeq has integrated GenomOncology's Pathology Workbench to enhance its OmniSeq INSIGHT test, a genomic and immune profiling tool for solid tumors. This system analyzes 523 genes, providing insights into mutations, copy number alterations, and immune gene expression. The partnership aims to streamline variant interpretation and improve turnaround times for precision medicine. After Labcorp's acquisition of OmniSeq in June 2021, the INSIGHT test is available to U.S. clinicians and global biopharmaceuticals through Labcorp Drug Development.
Labcorp (NYSE: LH) will announce its Q4 2021 and full-year results on February 10, 2022, before the market opens. A conference call is scheduled for 9 a.m. ET on the same day, allowing stakeholders to discuss the financial outcomes. The earnings report and detailed information will be available on the Labcorp Investor Relations website. Additionally, an audio replay of the call will be accessible until February 24, 2022. Labcorp reported $14 billion in revenue for FY2020, with over 70,000 employees serving clients globally.
Labcorp (NYSE: LH) announced that its executive management team will participate in a virtual fireside chat at the 40th Annual J.P. Morgan Healthcare Conference on Tuesday, Jan. 11, at 4:30 p.m. ET. A live webcast will be available on the company's website, providing insights into its operations and strategies. Labcorp is a global life sciences leader, generating $14 billion in revenue in FY2020 and employing over 70,000 staff across more than 100 countries, focusing on diagnostics and drug development.
Labcorp (NYSE: LH) announced a definitive agreement to acquire Personal Genome Diagnostics Inc. (PGDx), a leader in cancer genomics, for $450 million in cash and up to $125 million based on future performance milestones. This acquisition will enhance Labcorp's oncology portfolio and improve access to precision diagnostics globally, supporting better patient outcomes in cancer care. PGDx's innovative liquid biopsy capabilities align with Labcorp's strategic priorities, with projected revenues from PGDx expected to almost double from $22 million in 2021 to $40 million in 2022.
Labcorp (NYSE: LH) has announced a new capital allocation plan, which includes initiatives to enhance shareholder returns. The Board of Directors approved the initiation of a quarterly cash dividend, targeting a payout ratio of 15-20% of adjusted earnings, and authorized a $2.5 billion share repurchase program. Additionally, Labcorp aims to achieve $350 million in savings through process improvements over three years. These actions reflect Labcorp’s commitment to investing in growth areas and innovation.