Labcorp Launches COVID-19 Test Kits for Small Businesses to Support Return to Work and Life Safely
Labcorp (NYSE: LH) has launched the Pixel by Labcorp® COVID-19 PCR Test Home Collection Kit for small businesses, facilitating COVID-19 testing for companies with up to 120 employees. The initiative allows bulk purchasing to save on shipping costs and provides necessary testing for safe operations as businesses reopen. The kits can be self-administered and results are available within 1-2 days. Although the test is authorized under emergency use by the FDA, it reflects Labcorp's commitment to expand access to testing and support community health.
- Introduction of the Pixel by Labcorp COVID-19 PCR Test Home Collection Kit boosts testing accessibility for small businesses.
- Bulk purchasing option provides cost savings, making it easier for small businesses to manage testing.
- Results available within 1-2 days, facilitating timely decision-making for employers.
- Test has not received FDA approval, being available only under emergency use authorization.
- Potential reliance on a single product for COVID-19 testing may expose the company to market fluctuations.
Labcorp (NYSE: LH), a leading global life sciences company, today announced the availability of the Pixel by Labcorp® COVID-19 PCR Test Home Collection Kit for small businesses, an initiative aimed at providing fast, convenient, and reliable testing for companies with as many as 120 employees. Labcorp Employer Services currently provides COVID-19 testing and vaccination services for larger organizations and communities.
Photo courtesy of Labcorp
The small business offering enables bulk purchasing, and is well-suited for restaurants, professional services offices, event planners and small venue owners. Bulk purchasing saves on shipping costs, and those savings are passed on to the small business. Kits can be purchased in multiples of six, with a maximum of 120 kits per order, at Pixel by Labcorp. Purchases are made with a credit card.
“By making it easier for employees to get tested, we are supporting communities and small businesses across the country,” said Brian Caveney, M.D., chief medical officer and president, Labcorp Diagnostics. “Pixel by Labcorp offers reliable, trusted, and convenient COVID-19 testing along with the information needed for small business owners to make confident decisions in the interests of their customers and employees. We’re thrilled to work with small businesses to provide easy access to the same high-quality PCR tests used by doctors and hospitals as we work to improve health and improve lives.”
The offering for small businesses is yet another example of the company’s commitment to expanding access to testing so people can safely return to work and everyday activities. As states continue to reopen, small businesses will need a convenient way to ensure the safety of their employees and patrons. Many of these businesses are not able to offer remote working environments for their employees. The small business offering through Pixel by Labcorp makes it easier than ever for restaurants, production companies, retailers, and other small businesses to safely operate in their local communities.
Upon receiving a Pixel by Labcorp COVID-19 PCR Test Home Collection Kit from their employer or an event organizer, individuals self-administer the test using a short nasal swab and send their sample back to Labcorp via prepaid FedEx Express overnight. Results are typically available within 1-2 days from when Labcorp receives the sample. Once the test is processed by Labcorp, results are accessed securely by the employee via the Pixel by Labcorp website.
If a COVID-19 test is positive, a Labcorp-verified healthcare staff member will contact the individual directly by phone or mail to discuss next steps. Pixel by Labcorp has contracted with a physician network to provide independent physician services for consultation.
Labcorp’s COVID-19 PCR test has not been FDA cleared or approved and has been authorized by the FDA under an emergency use authorization only for the detection of nucleic acid from SARS-CoV-2, not for any other viruses or pathogens. The test is only authorized for the duration of the declaration that circumstances exist justifying the authorization of emergency use of in vitro diagnostic tests for detection and/or diagnosis of COVID-19 under Section 564(b)(1) of the Act, 21 U.S.C. § 360bbb-3(b)(1), unless the authorization is terminated or revoked sooner.
About Labcorp
Labcorp is a leading global life sciences company that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. Through our unparalleled diagnostics and drug development capabilities, we provide insights and accelerate innovations to improve health and improve lives. With over 70,000 employees, we serve clients in more than 100 countries. Labcorp (NYSE: LH) reported revenue of
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements, including but not limited to statements with respect to clinical laboratory testing and the potential benefits of a COVID-19 test home collection kit and our responses to and the expected future impacts of the COVID-19 pandemic and the opportunities for future growth.
Each of the forward-looking statements is subject to change based on various important factors, many of which are beyond the company’s control, including without limitation, the impact of the COVID-19 pandemic and its impact on our business and financial condition and on general economic, business, and market conditions, our ability (or inability) to execute on our plans to respond to the COVID-19 pandemic, competitive actions and other unforeseen changes and general uncertainties in the marketplace, changes in government regulations, including healthcare reform, customer purchasing decisions, including changes in payer regulations or policies, other adverse actions of governmental and third-party payers, changes in testing guidelines or recommendations, federal, state, and local government responses to the COVID-19 pandemic, the effect of public opinion on the company’s reputation, adverse results in material litigation matters, the impact of changes in tax laws and regulations, failure to maintain or develop customer relationships, our ability to develop or acquire new products and adapt to technological changes, failure in information technology, systems or data security, adverse weather conditions, the number of revenue days in a financial period, employee relations, personnel costs, and the effect of exchange rate fluctuations. These factors, in some cases, have affected and in the future (together with other factors) could affect the company’s ability to implement the company’s business strategy and actual results could differ materially from those suggested by these forward-looking statements. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements.
The company has no obligation to provide any updates to these forward-looking statements even if its expectations change. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. Further information on potential factors, risks and uncertainties that could affect operating and financial results is included in the company’s most recent Annual Report on Form 10-K and subsequent Forms 10-Q, including in each case under the heading RISK FACTORS, and in the company’s other filings with the SEC. The information in this press release should be read in conjunction with a review of the company’s filings with the SEC including the information in the company’s most recent Annual Report on Form 10-K, and subsequent Forms 10-Q, under the heading MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
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