Labcorp

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Labcorp Holdings Inc., known simply as Labcorp, is a public health-care company based in Burlington, North Carolina. It runs one of the world’s largest clinical laboratory networks, operating in more than 100 countries, though most of its work is in the United States.

Labcorp has two main business segments. Diagnostics Laboratories provides a wide range of tests and operates about 2,000 patient service centers with more than 6,000 in‑office phlebotomists across the U.S. It offers tests in areas such as oncology, HIV genotyping, DNA testing for paternity and immigration, environmental and wellness testing, toxicology, pain management, and drug monitoring, plus 50 tests that patients can complete at home. The company processes over 160 million tests each year, and about 10% of Diagnostics revenue comes from Medicare.

Biopharma Laboratory Services supports drug development and testing for pharmaceutical, biotechnology, medical device, and diagnostic companies. In 2023, this division supported 84% of the new drugs and therapies approved by the FDA.

Labcorp has a history of growth through acquisitions and has become a major provider of both clinical testing and drug-development services. A notable milestone was the 2015 acquisition of Covance, a large contract research organization, which expanded Labcorp’s clinical trials business. The company is also known for its early work in genomic testing and its Center for Esoteric Testing in Burlington.

During the COVID-19 pandemic, Labcorp played a key role in testing, receiving FDA emergency-use authorization for a SARS-CoV-2 test in March 2020 and launching a home-collection test in April 2020; by July 2020 it was processing about 165,000 tests per day. More recently, Labcorp spun off its Fortrea unit in 2023, acquired the assets of bankrupt Invitae in 2024, and in 2026 announced the sale of select assets from its early development medical device testing business to NAMSA.

Financially, Labcorp reported revenue of about $13.01 billion in 2024, with operating income of $1.087 billion and net income of $746 million. Its total assets were $18.38 billion and total equity $8.052 billion in 2024, and the company employs around 70,000 people.