Laboratory Corporation of America Holdings

Laboratory Corporation of America Holdings

Laboratory Corporation of America Holdings

Overview
Date Founded

1994

Headquarters

358 South Main Street, Burlington, NC, 27215, USA

Type of Company

Public

Employees (Worldwide)

61K

Industries

Medical Support Services
Hospitals & Patient Services
Other Business & Consulting Services
Biotechnology

Company Description

LabCorp provides leading-edge medical laboratory tests and services through a national network of primary clinical laboratories and specialized Centers of Excellence. Recognized for our innovation, quality, and customer convenience, LabCorp delivers timely, accurate results for improved patient care. With scientific expertise in esoteric testing, genomics, and clinical and anatomic pathology, LabCorp performs more than 1 million tests on more than 370,000 specimens each day. LabCorp is a pioneer in applying advances in medicine and science to laboratory testing, with more than 35 years of experience in serving physicians and their patients. LabCorp operates a sophisticated laboratory network, with corporate headquarters in Burlington, NC, and more than 30,000 employees nationwide. Our 220,000 clients include physician offices, hospitals, managed care organizations, and biotechnology and pharmaceutical companies. Laboratory Corporation of America Holdings is listed on the New York Stock Exchange (NYSE) under ticker symbol LH

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Executives & Employees

Chief Executive Officer

President, Chief Executive Officer & Director

Executive Vice President & Chief Financial Officer

Senior Vice President, Global General Counsel, Secretary & Chief Compliance Officer

Senior Vice President & Chief Information Officer

Senior Vice President & Chief Accounting Officer

Chief Human Resources Officer

Chief Executive Officer, Covance Drug Development

Executive Vice President & President of Diagnostics

Executive Vice President & President of Diagnostics Laboratory Operations & Global Supply Chain

Board of Directors

General Partner at Camden Partners Holdings LLC

Former Senior Director of Strategic Relationships at Microsoft Corporation

Former Chief Financial Officer & Senior Vice President at M/I Homes, Inc.

President, Chief Executive Officer & Director at Laboratory Corporation of America Holdings

Professor at Duke University

Founder at Healthquest Capital Management Co. Llc

Founder at BIOASTER

President & Director at Fred Hutchinson Cancer Research Center

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Owners & Shareholders
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Boston Partners primarily provides advice using a value style approach for large-cap equity, mid-cap equity, small-cap equity, long/short equity, alpha extension, global equity, and international equity. Their investment process is grounded in bottom-up fundamental analysis. The firm employs an efficient and repeatable investment process designed to identify companies with: attractive valuations, sound business fundamentals and improving business momentum. Boston Partners' investment strategies include several long/short equity products which include selling securities short. The securities sold short may not be considered \"value\" securities but are considered to be overvalued by Boston Partners on its quantitative screening and fundamental security analysis. For certain long/short portfolios, they use single name security swaps, negotiated on a bilateral basis and not cleared through a central clearing facility. Swaps are used to provide short exposure in markets where physical shorting is not allowed or to obtain exposure to a security to manage margin requirements more efficiently.

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Allen Investment Management (AIM) provides customized wealth management services to separate accounts and investment advisory services to 2 hedge funds.For their separate accounts, AIM's primary investment strategy is referred to as their \"Global Market Leaders Strategy\" (GML). The strategy seeks to invest in 15-20 dominant global franchise businesses at attractive prices. AIM targets businesses with leading market shares within their respective industries and are, generally, diversified across both geographies and currencies. Such companies represent what AIM believes are durable business models that operate in industries with high barriers to entry and generally limited competition. They also seek companies in which management teams are focused on capital allocation and on generating returns for their shareholders via share repurchases and dividend payouts. The firm also seeks companies which they believe are both effective and efficient with their capital.The objective of the ACIA Equity Fund is to preserve capital and achieve long-term absolute returns. The Fund allocates substantially all of its assets among a select group of external portfolio managers that invest through investment funds or managed accounts. While the portfolio managers employ a broad range of investment strategies, which include a diverse set of alternative and traditional investment opportunities, the Fund tends to focus its investment activities in portfolio funds with equity investment strategies. Such portfolio funds generally offer limited liquidity and restrictive withdrawal terms.The objective of the ACIA Asset Allocation Fund is to preserve capital and achieve long-term absolute returns. The Fund invests its assets (a) in publicly traded securities, such as publicly-traded equities, sovereign and corporate fixed income, ETFs, options and futures, among others and (b) through a select group of external portfolio managers that invest through portfolio funds. Portfolio funds may invest in a wide array of securities which may include all sectors of publicly traded equities on a global basis, options, convertible securities, debt securities and securities of privately held companies, among others. The portfolio managers may utilize various strategies,

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Iridian Asset Management is an independently owned, value-oriented investment management firm focused on active equity investment strategies for institutional investors, including foundations and endowments, corporate and public pension funds, sub-advised and Taft Hartley funds. As of September 30, 2012, assets under management totalled $7.7 billion in U.S. mid-cap, large-cap and small-cap equity strategies. Iridian was founded in 1996 by David Cohen and Harold Levy, two seasoned investment professionals who have worked side-by-side in the investment industry for over 20 years. Our unique "private business value" approach to investing, which drives our mid-cap and large-cap strategies, has its roots in their early investment careers, which encompassed direct experience in private equity, venture capital, distressed debt and bankruptcy takeovers. In analyzing investment opportunities, our founders learned the importance of focusing on cash-related metrics and in-depth, critical assessment of a company's management — two key factors that have been fundamental in shaping a shared and distinctive investment philosophy. In December 2009, the co-portfolio management team of Jordan D. Alexander and Stephen A. Friscia, Jr. joined Iridian to manage a Small-Cap Value strategy. Jordan and Stephen have worked together since 1998 and have co-managed small cap value strategies as a team since 2000. Today, Iridian is built around a collaborative team of experienced investment professionals managing a range of traditional investment strategies for institutional investors.

Recent Transactions
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Laboratory Corporation of America Holdings purchases South Bend Medical Foundation, Inc. /Clinical Testing Lab Bus from South Bend Medical Foundation Inc.

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Laboratory Corporation of America Holdings, Covance, Inc. purchase Envigo CRS Ltd. /Nonclinical Research Services Bus from Covance CRS Ltd.

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Eurofins Scientific SE purchases Covance, Inc. from Laboratory Corporation of America Holdings

Insider Transactions
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Transaction Advisors
Legal Advisor

Advised onLaboratory Corporation of America Holdings purchases Covance, Inc.

Legal Advisor

Advised onLaboratory Corporation of America Holdings purchases Dynacare, Inc.

Auditor

Advised onLaboratory Corporation of America Holdings issued Common Stock

Legal Advisor

Advised onLaboratory Corporation of America Holdings purchases Covance, Inc.

Legal Advisor

Advised onLaboratory Corporation of America Holdings, Covance, Inc. purchase Chiltern International Group Ltd.

Legal Advisor

Advised onLaboratory Corporation of America Holdings, Covance, Inc. purchase Chiltern International Group Ltd.

Advisors & Consultants
Legal Advisor

Former Chief Executive Officer at Laboratory Corporation of America Holdings

Legal Advisor

Partner at Hogan & Lovells LLP

Legal Advisor

Partner at King & Spalding LLP

Clients

CVS Health Corp. engages in the provision of health care services. It operates trough the following segments: Pharmacy Services, Retail or Long Term Care, Health Care Benefits and Corporate. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long Term Care segment includes selling of prescription drugs and assortment of general merchandise. The Health Care Benefits segment offers traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, medical management capabilities. The Corporate segment involves in providing management and administrative services. The company was founded by Stanley P. Goldstein and Ralph Hoagland in 1963 and is headquartered in Woonsocket, RI.

The Mount Sinai Health System is an integrated health care system providing exceptional medical care to our local and global communities. Encompassing the Icahn School of Medicine at Mount Sinai and seven hospital campuses in the New York metropolitan area, as well as a large, regional ambulatory footprint, Mount Sinai is acclaimed internationally for its excellence in research, patient care, and education across a range of specialties. The Mount Sinai Health System was created from the combination of The Mount Sinai Medical Center and Continuum Health Partners, which both agreed unanimously to combine the two entities in July 2013.

GlaxoSmithKline Plc is a global healthcare company which engages in researching, developing and manufacturing of pharmaceutical medicines, vaccines and consumer healthcare products. It operates through the following four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines and Consumer Healthcare. The Pharmaceuticals segment researches, develops and makes available medicines that treat a variety of serious and chronic diseases. The Vaccines segment produces pediatric and adult vaccines to prevent a range of infectious diseases including, hepatitis A and B, diphtheria, tetanus and whooping cough, measles, mumps and rubella, polio, typhoid, influenza and bacterial meningitis. The Consumer Healthcare segment markets a range of consumer health products based on scientific innovation. The company was founded in 1715 and is headquartered in Brentford, the United Kingdom.

Key Stats and Financials As of 2018
Market Capitalization
$16.2B
Total Enterprise Value
$18.6B
Earnings Per Share
$8.61
Revenue
$11.3B
Net Profit
$884M
Total Debt
$6.06B
Total Equity
$6.99B
Enterprise Value Sales
1.64x
TEVNet Income
21.07x
Debt TEV
0.33x
EBITDA
$1.99B
EBITDAMargin
17.56%
Enterprise Value EBITDAOperating
9.35x
Three Year Compounded Annual Growth Rate Of Revenue
9.3%
Five Year Compounded Annual Growth Rate Of Revenue
14.3%
Investments
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SynapDx Corp. operates as a laboratory services company which develops a blood-based test for the early detection of autism spectrum disorder. It provides laboratory testing services to physicians who evaluate children for developmental disorders with the initial goal of enabling earlier detection of autism. The company was founded by Stanley N. Lapidus, Jeffrey R. Luber, Graham Gardner and Patrick A. Anquetil in 2010 and is headquartered in Lexington, MA.

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Navigating Cancer, Inc. develops patient relationship management software for cancer care. It offers care management, population health, patient portal and other consulting services. The firm's products combine clinical workflows, oncology content, and data insights to personalized patient care for cancer patients inside and outside of the clinic. The company was founded by Gena P. Cook, Michael Graff, Eva Ho and Paul Zeltzer in 2008 and is headquartered in Seattle, WA.

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PathAI, Inc. provides artificial intelligence powered technology for the pathology laboratory. It offers research and drug development, clinical and global health solutions. The firm specializes in pathology, digital pathology, oncology, immune-oncology, auto immune disease, neurodegenerative disease, companion diagnostics, precision medicine, solutions, research and development and computational pathology. The company was founded by Andrew H. Beck and Aditya Khosla in 2016 and is headquartered in Cambridge, MA.

Investors
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Life Peer at United Kingdom House of Lords

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Life Peer at United Kingdom House of Lords

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Professional at VR Management LLC

Suppliers
Luminex Corp. Medical Support Services | Austin, TX

Luminex Corp. develops, manufactures and markets proprietary biological testing technologies and products with applications throughout the life sciences and diagnostics industries. The company was founded by Mark B. Chandler and Van S. Chandler in May 1995 and is headquartered in Austin, TX.

BG Medicine, Inc. Hospitals & Patient Services | Waltham, MA

BG Medicine, Inc. engages in developing and delivering innovative solutions for healthcare providers that provide insight and transform the clinical care of heart failure and related disorders. It distributes products such as BGM Galectin-3 to clinical laboratories, hospitals and health care provider. The company was founded in February 2000 and is headquartered in Foxboro, MA.

MDxHealth SA Biotechnology | Herstal, WA

MDxHealth SA engages in the development and commercialization of molecular diagnostic products for personalized cancer treatment. It operates through the following geographical segments: United States of America, The Netherlands, Belgium, Spain, Poland, Italy, Rest of EU, and Rest of the World. It offers ConfirmMDx, SelectMDx, AssureMDx, InformMDx, SelectMDx, and MonitorMDx. The company was founded by Herman Spolders and Philip S. Devine on January 10, 2003 and is headquartered in Herstal, Belgium.

Awards & Honors
Rank #325
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
Rank #325
2016
Fortune Magazine - Fortune 500 Companies
Sponsored by Fortune Magazine
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