Labcorp Acquires Select Assets of Lab Works
Acquisition aims to provide broader access to comprehensive testing and laboratory services
for patients and physicians in Birmingham, Alabama
BURLINGTON, N.C., (Nov. 20, 2024) — Labcorp (NYSE: LH), a global leader of innovative and comprehensive laboratory services, has finalized its acquisition of select assets and molecular testing location of Lab Works, an accredited independent clinical laboratory located in Birmingham, Alabama.
“We are committed to continuing the longstanding tradition of high-quality laboratory and healthcare services that Lab Works has provided to its patients and clients while expanding these important services,” said Lenny Monsour, Senior Vice President of Labcorp’s Southeast Division. “We look forward to using our expertise to help improve health and improve lives for the people of the Birmingham area.”
Upon full integration, patients and clients will have access to Labcorp’s broad spectrum of services through an extensive test menu, an expanded patient service center network and mobile app for improved patient access and convenience, expanded health plan coverage, and a variety of electronic connectivity solutions to assist with test ordering and result delivery.
“Labcorp shares our commitment to high-quality and personalized care,” said Adam Earl, principal at Lab Works. “Lab services are critical in the care of patients, and we are excited about how our patients and clients will benefit from Labcorp’s scientific expertise and innovative services.”
This relationship follows other acquisitions and strategic relationships that Labcorp has finalized with a range of local and regional health systems and laboratories that have enhanced services for patients and providers.
About Labcorp
Labcorp (NYSE: LH) is a global leader of innovative and comprehensive laboratory services that helps doctors, hospitals, pharmaceutical companies, researchers and patients make clear and confident decisions. We provide insights and advance science to improve health and improve lives through our unparalleled diagnostics and drug development laboratory capabilities. The company's more than 67,000 employees serve clients in approximately 100 countries, provided support for 84% of the new drugs and therapeutic products approved in 2023 by the FDA and performed more than 600 million tests for patients around the world. Learn more about us at www.labcorp.com
Media: Kimbrel Arculeo, [email protected]; Investors: Christin O'Donnell, [email protected]