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In September 2010, Labcorp acquired Genzyme Genetics, formerly a division of Genzyme Corporation, with 9 testing laboratories and approximately 1,900 employees, for $925 million in cash. [36] In February 2011, Labcorp acquired the assets of bankrupt Westcliff Medical Laboratory. The FTC challenged the acquisition but lost in court. [37] [38] [39]
In June 2021, the company changed its name to Labcorp Drug Development. [55] In February 2023, the company was renamed Fortrea Holdings. [56] In July 2023, Labcorp completed the corporate spin-off of the company. [57] In June 2024, the company sold its Endpoint Clinical and Fortrea Patient Access businesses to Arsenal Capital Partners. [58]
LabCorp's (LH) recent collaboration will enable it to administer Ascension's hospital-based laboratories in 10 states and purchase select assets of the health system's outreach laboratory business.
APP was founded in 2007 and incorporated in February 2008 by laboratory professionals, Edward Dooling and Thanasis Papaioanu, along with hospital executive, Martin Rash. Edward Dooling was formerly a senior executive with AmeriPath (now part of Quest Diagnostics) and DIANON Systems, Inc., (now part of LabCorp).
By 2002, Dynacare, just before LabCorp's takeover, had become the largest central clinical laboratory in western Canada, with a revenue in 2001 of $402.4-million and a profit of $11.7-million. [ 5 ] By June 2020, Dynalife was operating 36 private laboratories in the Edmonton area and northern Alberta and had a contract with the Alberta ...
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As of 2020, the company had approximately 48,000 employees, and it generated more than $7.7 billion in revenue in 2019. [ 5 ] [ 6 ] The company offers access to diagnostic testing services for cancer , cardiovascular disease , infectious disease, neurological disorders , COVID-19 , and employment and court-ordered drug testing .