Laboratory Corporation of America Holdings history

In 1979 Biomedical sold stock to the public for the first time.

Hoffman-La Roche acquired it for US$163.5 million in 1982 and then merged it with all of its laboratories, and incorporated the merged company that year as Roche Biomedical Laboratories, Inc. in Burlington.

1983 Merger forms Roche Biomedical Laboratories (RBL) Hoffmann-La Roche merges all of its laboratory companies into one company, now called Roche Biomedical Laboratories (RBL).

In 1984, the United States Congress approved more stringent Medicare regulations, which forced testing laboratories to provide greater billing information.

In February 1987, Roche Biomedical joined with Pragma Bio-Tech, Inc., a New Jersey-based company, to provide workplace drug and alcohol testing.

National Health Laboratories went public as a company on the NASDAQ exchange in 1988.

In 1989, the company established a new division, the Roche Insurance Laboratory.

At the start of the 1990s, Roche Biomedical consolidated geographically, selling its western regional operations in August 1990.

However, beginning in 1991 the company became embroiled in Operation "Labscam," a nationwide crackdown on fraud in the health-care system, initiated by the United States Attorney's Office in San Diego, California.

The year that National Health Laboratories was required to make their first payment on the Labscam settlement was in 1992.

In 1993, revenues were up to US$761 million, with new peak earnings of nearly US$113 million.

The merger between National Health and Roche Biomedical was announced in December 1994.

By year-end 1995, the new company's total debt reached US$959 million.

By 1996, LabCorp was losing money, and its share price was in the dumps, losing three-fourths of its value in a year.

In the summer of 1998, LabCorp made the acquisition of Universal Standard Healthare with an equity position and it became their clinical laboratory testing provider for the long-term.

Quest Diagnostic Incorporated, LabCorp's largest rival, had acquired SmithKline Beecham Clinical Laboratories in 1999, removing an aggressive price competitor.

In December 2001, Labcorp became the exclusive marketer for genomics and proteomics predictive cancer test products made by Myriad Genetics, Inc.

In May 2002, Labcorp announced the acquisition of all outstanding Shares of Canadian medical laboratory services company Dynacare Inc. for $480 million in cash and own shares.

In January 2003, Labcorp acquired all of the outstanding shares of Dianon, a provider of anatomical pathology and oncology testing services, for $598 million in cash.

In March 2005, Labcorp announced the acquisition of all outstanding Shares of Esoterix, Inc., a leading provider of specialty reference testing, for approximately $150 million in cash from private equity firm Behrman Capital.

In November 2006, Labcorp acquired Litholink Corporation, a kidney stone analysis laboratory.

In December 2007, Labcorp acquired Tandem Labs, a Contract research organization specializing in advanced mass spectrometry, immunoanalytical support, pharmacokinetics, and pharmacodynamics, headquartered in Salt Lake City, UT for an undisclosed amount.

2008 Tandem Laboratories purchased by LabCorp LabCorp expands its clinical trials, personalized medicine, and companion diagnostic capabilities by purchasing Tandem Laboratories.

In June 2009, Labcorp acquired Monogram Biosciences, a diagnostic lab specializing in HIV resistance testing, headquartered in South San Francisco, CA, in a cash tender of $4.55 per share for approximately $155 million including debt.

In May 2010, Labcorp acquired the assets of its Santa Ana, California-based rival Westcliff Medical Laboratory which had just filed a Chapter 11 bankruptcy action in federal court.

In November 2011, Labcorp completed the acquisition of more than 90% of the shares of DNA testing company Orchid Cellmark for $85 million but had to sell parts of Orchid's paternity business to DNA Diagnostics Center.

In August 2012, Labcorp completed the acquisition of rival testing lab Medtox Scientific for $241 million.

In September 2013, Labcorp acquired MuirLab, the clinical laboratory outreach business from John Muir Health.

In October 2014, Labcorp announced it had entered into an agreement to acquire Covance Inc. for approximately $6.1 billion.

2015 Acquisition of Covance headlines a banner year In February 2015, LabCorp completes its $6 billion purchase of Covance, Inc., creating the world’s leading health care diagnostics company.

In October 2016, Labcorp acquired ClearPath Diagnostics, a provider of laboratory diagnostic services in the Northeastern United States, from private equity firm Shore Capital Partners for an undisclosed amount.

2019 LabCorp acquires MNG Laboratories On March 1, 2019, LabCorp acquires MNG Laboratories, an internationally recognized clinical diagnostic leader that specializes in next generation sequencing (NGS) and complex biochemical testing for neurology.

In March 2020, Labcorp received emergency use authorization from the FDA for a test for Severe acute respiratory syndrome coronavirus 2 to help mitigate the COVID-19 pandemic.

In November 2021, the business announced it would acquire contract research organisation Toxikon.