Laboratory Corporation of America Holdings

Laboratory Corporation of America Holdings

Laboratory Corporation of America Holdings

Overview
Date Founded

1995

Headquarters

PO Box 12140, Burlington, NC, 27216, USA

Type of Company

Public

Employees (Worldwide)

72.4K

Industries

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

Company Description

Laboratory Corp. of America Holdings operates as a life sciences company, which engages in the provision of vital information to help health professionals make clear and confident decisions. It operates through the Drug Development and Diagnostics segments. The Drug Development segment consists of lead optimization, preclinical safety assessment, analytical services, clinical trials, central laboratories, biomarkers, and companion diagnostics, market access, and technology solutions. The Diagnostics segment includes primary care, women's health, specialty medicine, oncology, ACOs, and hospitals and health systems. The company was founded in 1995 and is headquartered in Burlington, NC.

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Executives & Employees

Chief Financial Officer, Executive Vice President, Treasurer

Chief Financial Officer & Executive Vice President

Executive Vice President & Chief Marketing Officer

Executive Vice President & Chief Information & Technology Officer

Senior Vice President & Chief Information Officer

Senior Vice President & Chief Accounting Officer

Executive Vice President, Chief Legal Officer, Chief Compliance Officer & Corporate Secretary

Executive Vice President, President of Diagnostics & Chief Medical Officer

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

Executive Vice President & Chief Executive Officer, Drug Development

Board of Directors

Chief Financial Officer & Executive Vice President at QVC, Inc.

Former President & Chief Executive Officer at Wendy's International LLC

Advisor at Witlee

Former Senior Director of Strategic Relationships at Microsoft Corporation

Interim Vice President for Research & Innovation at Duke University

Founder & Managing Partner at Healthquest Capital Management Co LLC

Operating Advisor at Clayton Dubilier & Rice LLC

Executive Vice President & Chief Global Supply Chain Officer at Johnson & Johnson

Former President & Director at Fred Hutchinson Cancer Research Center

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

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Laboratory Corporation of America Holdings
Owners & Shareholders
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VGI is an active, long-term manager which aims to achieve maximum capital appreciation while mitigating general market risk by employing a hedged approach and taking short positions as well as long positions. The firm performs fundamental analysis to select investments primarily in public equity securities, but also in private equity and other financial instruments. They typically invest in companies located around the world that operate in a wide range of industries.

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JANA Partners utilizes JANA Strategic Investment (JSI) strategy which seeks to capitalize on the value-maximizing strategy of the firm by making significant investments in undervalued public companies and seeking value-creating change to generate enhanced returns across concentrated portfolios. As part of the JSI strategy, they seek to bring about change at companies, in which they have invested by either working with management to effect change or, where management is unwilling to do so, pursuing a shareholder activist strategy. JSI is a long-only investment strategy and investments span a broad spectrum of industries, typically located in North America or Western Europe and typically with market capitalizations in excess of $500 million.

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TGA’s investment philosophy and approach are based on three tenets: value, patience and bottom-up selection. By combining time-proven fundamental analysis with original research, the investment team searches for companies that meet their criteria of quality and valuation. When choosing equity investments for the strategies, the investment manager applies a bottom-up, value-oriented, long-term approach, focusing on the market price of a company’s securities relative to the firm’s evaluation of the company’s long-term earnings, asset value and cash flow potential. The managers then construct individual portfolios within established parameters for the mandate as well as diversification based in the research results. Portfolio managers continually review portfolios to assess sector and industry risk exposure in response to changing market conditions.

Recent Transactions
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Pyxant Labs Inc purchases Covance, Inc. /Salt Lake City Bioanalytical Site from Laboratory Corporation of America Holdings

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Laboratory Corporation of America Holdings purchases Myriad Genetics Inc/Autoimmune Busines Unit from Myriad Genetics, Inc.

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Laboratory Corporation of America Holdings purchases Franciscan Missionaries of Our Lady Health System /Clinic Bus from Franciscan Missionaries of Our Lady Health System, Inc.

Insider Transactions
Details Hidden
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 USD 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

Partner at Hogan & Lovells LLP

Legal Advisor

Co-Head, Healthcare Team at Pritzker Private Capital

Legal Advisor

Partner at King & Spalding LLP

Clients

Walgreens Boots Alliance, Inc. engages in the provision of drug store services. It operates through the following segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale. The Retail Pharmacy USA segment consists of the Walgreens business, which includes the operation of retail drugstores, health and wellness services, and mail and central specialty pharmacy services. The Retail Pharmacy International segment consists of pharmacy-led health and beauty retail businesses and optical practices. The Pharmaceutical Wholesale segment consists of the Alliance Healthcare pharmaceutical wholesaling and distribution businesses and an equity method investment in AmerisourceBergen. The company was founded in 1901 and is headquartered in Deerfield, IL.

Novant Health, Inc. engages in the operation of hospitals and provides healthcare services. It is a medical group consisting of physicians as well as numerous outpatient surgery centers, medical plazas, rehabilitation programs, diagnostic imaging centers, and community health outreach programs. Its services include breast health, pediatrics, orthopedics, surgery, and sleep health. The company was founded on July 1, 1997 and is headquartered in Winston-Salem, NC.

Progyny, Inc. is a fertility benefits management company. It provides fertility solutions to employers, managing IUI, in vitro fertilization (IVF), egg freezing, and other fertility treatments. The company operates through one segment: fertility and pharmacy benefits solutions. It also delivers treatment services and access to the firm’s network of fertility specialist. The company was founded on April 3, 2008 and is headquartered in New York, NY.

Key Stats and Financials As of 2020
Market Capitalization
$27.4B
Total Enterprise Value
$25.4B
Earnings Per Share
$15.88
Revenue
$14B
Enterprise Value EBITDAOperating
6.47x
TEVNet Income
16.33x
Debt TEV
0.27x
EBITDAMargin
27.15%
Enterprise Value / Sales
1.82x
Total Debt
$6.76B
EBITDA
$3.79B
Total Equity
$9.38B
Net Profit
$1.56B
Three Year Compounded Annual Growth Rate Of Revenue
10.21%
Non-Profit Donations & Grants
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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Sera Prognostics, Inc. engages in the provision of personalized diagnostics to predict and manage pregnancy complications. It focuses on developing blood tests to predict the risks of preterm birth, preeclampsia and other pregnancy complications. The company was founded by Steven W. Graves, Dennis Farrar and M. Sean Esplin in 2008 and is headquartered in Salt Lake City, UT.

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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.

Investors
Details Hidden

Life Peer at United Kingdom House of Lords

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Life Peer at United Kingdom House of Lords

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Managing Partner at Amzak Capital Management LLC

Suppliers
Luminex Corp. Industrial Machinery & Manufacturing | Austin, TX

Luminex Corp. develops, manufactures and markets proprietary biological testing technologies and products with applications throughout the life sciences and diagnostics industries. The firm's products are focused on the molecular diagnostic testing market, which includes human genetics, personalized medicine and infectious disease segments. The company was founded by Mark B. Chandler and Van S. Chandler in May 1995 and is headquartered in Austin, TX.

BG Medicine, Inc. Medical Support Services | Waltham, MA

BG Medicine, Inc. is a life sciences company. It 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 by Jan van der Greef and is headquartered in Foxboro, MA.

MDxHealth SA Biotechnology | Herstal, Belgium

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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