Laboratory Corporation of America Holdings (Labcorp) is a global leader in innovative and comprehensive laboratory services. It provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. The company leverages its diagnostics and drug development capabilities to provide insights and accelerate innovations to improve health and lives. Labcorp has more than 67,000 employees and serves clients in more than 100 countries.

The company is organized into two segments: Diagnostics Laboratories (Dx), which includes routine and specialty testing, and Biopharma Laboratory Services (BLS), which includes early development research and central laboratory services. The company plays a leading role in advancing healthcare globally, working on 90% of new drugs approved by the FDA in 2023 and performing more than 600 million tests for patients worldwide. The company's offerings have resulted in Base Business revenue growth of 11.8% from 2022 through 2023 and 7.2% versus 2019 CAGR.

• Employees: 67,000+ (as of December 31, 2023)
• Geographic Footprint: 100+ countries
• Headquarters: Burlington, North Carolina
• Founded: Not explicitly stated in the 10K
• Number of locations/facilities: Not explicitly stated in the 10K
• Revenue: $12.16 billion (FY2023)
• Market Capitalization: Approximately $17.3 billion (as of June 30, 2023)
• Key Subsidiaries/Brands: Labcorp OnDemand, Dynacare

• CEO: Adam H. Schechter
• CFO: Glenn A. Eisenberg
• Chief Operations Officer: Peter J. Wilkinson

• Annual Revenue: $12.16 billion (FY2023)
• Net Income: $418.0 million (FY2023)
• Market Cap: $17.3 billion (as of June 30, 2023)
• Total Assets: $16.73 billion (as of December 31, 2023)
• Number of Employees: 67,000+ (as of December 31, 2023)
• Key Financial Highlights: Base Business revenue growth of 11.8% from 2022 through 2023.

Labcorp provides a wide array of laboratory testing services and drug development solutions.

• Diagnostics Laboratories (Dx): Routine and specialty testing services, including clinical, anatomic pathology, genetic, and genomic tests. Also offers consumer-initiated wellness testing through Labcorp OnDemand.
• Biopharma Laboratory Services (BLS): Early development research, central laboratory services, and drug development solutions for pharmaceutical, biotechnology, and medical device companies.

The company operates in two segments:

• Diagnostics Laboratories (Dx): 77% of total revenue (FY2023)
• Biopharma Laboratory Services (BLS): 23% of total revenue (FY2023)

Labcorp is focused on expanding its role in healthcare through strategic opportunities and differentiating its offerings. Key priorities include:

• Being the partner of choice for health systems and local/regional laboratories.
• Leading in the development, licensing, and scaling of specialty testing, including companion diagnostics.
• Expanding consumer-centric capabilities.
• Expanding global reach, including through companion diagnostics.
• Investing in R&D and innovation.

Labcorp operates in the clinical laboratory and drug development industries.

• Primary Industry: Clinical laboratory testing and drug development services.
• Market Position: A global leader in its industry.
• Key Competitors: The 10K does not explicitly list competitors.
• Industry Trends: Industry consolidation, consumerism trends, and increasing importance of specialty diagnostics.

• Economic and Geopolitical Risks: General economic factors, natural disasters, geopolitical events, and public health crises could adversely impact the company.
• Personnel Risks: Inability to attract, retain, and develop qualified personnel, including key management personnel, and increased personnel costs.
• Healthcare Reimbursement Risks: Changes in healthcare reimbursement models and government payment systems could have a material adverse effect on revenues and profitability.
• Competition Risks: Increased competition, including price competition, could have an adverse effect on revenues and profitability.
• Technology and Cybersecurity Risks: Failure to maintain the security of information or cybersecurity incidents could damage the company's reputation and materially affect its business.