Facts about Labcorp tell the readers about the company officially known as Laboratory Corporation of America Holdings. The head office of Labcorp is located in Burlington, North Carolina. It is an American S&P 500 company specialized for testing in large volume at the Center of Esoteric Testing in the headquarter office. The clinical laboratory network that the company has is super large. There are 36 main laboratories of Labcorp in United States. The company was known as Roche BioMedical before it merged with National Health Laboratory in 1995. Let us find out other useful facts about Labcorp:
Facts about Labcorp 1: the early pioneer
The usage of PCR or polymerase chain reaction technology was pioneered by Labcorp for genome testing. It was performed in North Carolina at Center for Molecular Biology and Pathology in Research Triangle Park.
Facts about Labcorp 2: the other testing
Besides the genome testing, Labcorp also conducts different kinds of testing like human immunodeficiency virus (HIV) genotyping and phenotyping, molecular diagnostics, and oncology testing.
Facts about Labcorp 3: the operation of Labcorp
The operation of Labcorp is not limited in United States. The testing of Labcorp is also conducted in three provinces in Canada. The development of PCR testing methods are conducted in the National Genetics Institute, Inc, California.
Facts about Labcorp 4: criticism
Even though Labcorp is a successful company, it has been criticized by the public due to their practice for paying the doctor’s office and genetic counselors in hospitals with salaries.
Facts about Labcorp 5: the revenue
There were at least 18,000 people working for Labcorp. The company earned the revenue at US$1.9 billion.
Facts about Labcorp 6: Myriad Genetics, Inc
Myriad Genetics, Inc created genomics and proteomics predictive cancer test products where the right for the exclusive marketer for the products was owned by Labcorp in December 2001.
Facts about Labcorp 7: the growth of Labcorp
Labcorp grows rapidly since health care is one of the important aspects in human life.
Facts about Labcorp 8: the revenue in 2005, 2006 and 2007
The revenue of Labcorp was increased from year to year. In 2005, it earned the revenue at $3.3B. It gained $3.6B and $4.1B in 2006 and 2007 respectively.
Facts about Labcorp 9: acquisition
Labcorp also conducts some acquisitions. Litholink Corporation is a kidney stone analysis laboratory acquired by the company in November 2006. Other companies acquired by Labcorp include the Genzyme Genetics, Monogram Biosciences, MedTOX, and Tandem Labs.
Facts about Labcorp 10: Sequenom
There was a plan to acquire Sequenom in August 2016 for the company wanted to expand to Asia and Europe. The worth of acquisition reached $371 million.
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