Labcorp Opens New Los Angeles Based Laboratory

Rhea-AI Summary

Labcorp has launched operations at a new, larger anatomic pathology and histology laboratory in Los Angeles, aimed at enhancing its global testing capabilities. This facility, part of Labcorp's growth strategy, will feature advanced technologies including digital pathology and multiplex immunohistochemistry. The laboratory is designed for flexibility and future expansion, supporting clinical trials in areas like oncology and liver disease. Labcorp's global expansion also includes recent lab expansions in Singapore, Switzerland, and Japan.

Positive

• Operational launch of a larger APH laboratory in Los Angeles, expanding testing capabilities.
• Incorporation of advanced technologies like digital pathology and multiplex immunohistochemistry.
• Designed for flexibility and future growth, accommodating changes in demand and workflow.
• Supports clinical trials in various therapeutic areas, enhancing Labcorp's service offerings.
• Recent global expansions in Singapore, Switzerland, and Japan complement the new facility.

Negative

• None.

New Space Will Be Three Times Larger and Increase Testing Capabilities

BURLINGTON, N.C.--(BUSINESS WIRE)-- Labcorp (NYSE: LH), a leading global life sciences company, today announced that it has begun operations at a new, larger anatomic pathology and histology (APH) laboratory in Los Angeles, expanding the company’s global central laboratory capabilities.

Photo courtesy of Labcorp

Labcorp is investing in its APH services as a key component of its global growth and expansion strategy. The new laboratory is a dedicated Center of Excellence focused on APH laboratory testing solutions. The larger laboratory will expand capabilities, such as digital pathology with the use of artificial intelligence (AI), multiplex immunohistochemistry (IHC) and other innovative technologies supporting clinical trials and precision medicine development.

“Our larger, state-of-the-art laboratory allows us to further advance clinical trials across numerous therapeutic areas like oncology, hemato-oncology and liver disease,” said Vincent Drouillon, senior vice president of global testing services and scientific and medical affairs for Labcorp Drug Development’s Clinical Trial Testing Solutions business. “Additionally, it will enable us to increase capacity and to enhance capabilities of our APH services offering, including exploratory biomarkers, fully validated tests, international quality standards and companion diagnostics.”

Most of the new laboratory space can be reconfigured without construction, enabling fast adjustment for new technologies, spikes in demand and changes in workflow. In addition to the flexibility of design, the new laboratory can also be expanded for future growth.

The Los Angeles facility complements the broader global central laboratory and specialty testing capabilities of Labcorp. Additional global growth includes recent expansions to Labcorp’s APH laboratories in Singapore and Switzerland, as well as the opening of an APH lab section in Japan.

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 75,000 employees, we serve clients in more than 100 countries. Labcorp (NYSE: LH) reported revenue of $16 billion in FY2021. Learn more about us at www.Labcorp.com or follow us on LinkedIn and Twitter @Labcorp.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221208005956/en/

Media: Rachael Valdez – 336-436-8263

Media@Labcorp.com



Investors: Chas Cook – 336-436-5076

Investor@Labcorp.com

Source: Labcorp

FAQ

What is the significance of Labcorp's new lab in Los Angeles?

Labcorp's new lab in Los Angeles enhances its anatomic pathology testing capabilities, supporting global growth and clinical trials.

How does Labcorp's new facility impact its clinical trial services?

The new facility increases capacity and enhances capabilities for clinical trials, particularly in oncology and liver disease.

What technologies are being introduced in Labcorp's Los Angeles laboratory?

The Los Angeles laboratory will utilize digital pathology and multiplex immunohistochemistry among other advanced technologies.

What recent expansions has Labcorp undertaken besides the Los Angeles lab?

Labcorp has also expanded its anatomic pathology laboratories in Singapore, Switzerland, and opened sections in Japan.

What are the future prospects for Labcorp's new testing lab?

The lab is designed for rapid reconfiguration and future growth, allowing Labcorp to adapt to technology changes and market demands.