LabCorp - M&A Summary and Business Overview

Test/measurement EquipmentCompany

LabCorp M&A Summary

LabCorp has acquired 45 companies, including 9 in the last 5 years. A total of 6 acquisitions came from private equity firms. It has also divested 2 assets.

LabCorp’s largest acquisition to date was in 2014, when it acquired Covance for $6.2B. It’s largest disclosed sale occurred in 2018, when it sold Covance Food Solutions to Eurofins Scientific SE for $670M. LabCorp has acquired in 18 different US states, and 2 countries. The Company’s most targeted sectors include life science (48%) and healthcare services (30%).

LabCorp Business Overview

Where is LabCorp headquartered?

LabCorp is headquartered in Burlington, North Carolina.

What is LabCorp’s revenue?

LabCorp disclosed revenue of 14,877M USD for 2022 and 16,121M USD for 2021.

How many employees does LabCorp have?

LabCorp has 70,400 employees.

What sector is LabCorp in?

LabCorp is a test/measurement equipment company.

When was LabCorp founded?

LabCorp was founded in 1994.

M&A Summary

  • M&A Total Activity46
    • M&A Buy Activity44
    • M&A Sell Activity2
  • Total Sectors Invested 5
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 24
  • M&A Advisors 9

LabCorp

Laboratory Corporation of America Holdings

531 South Spring Street,
Burlington, North Carolina 27215
United States,
(336) 229-1127
www.labcorp.com

LabCorp of America Holdings is a provider of medical laboratory tests and services through a national network of primary clinical laboratories and specialty testing laboratories. LabCorp was formed in 1994 and is based in Burlington, North Carolina.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.6/yr) # 36 - 4 2 1 1 44
vol $10.5B $725M $11.2B
Sell (0.2/yr) # 1 - 1 - - - 2
vol $670M $670M
  46

Most Recent M&A

Company Date Value Type
Invitae Corp. 2024-04-24 - Special Situations/Distressed
San Francisco, California · www.invitae.com
Baystate Health - Outreach laboratory business 2023-10-04 - Divestiture
Springfield, Massachusetts
RWJBarnabas Health - Outreach Laboratory Business 2022-08-23 - Divestiture
West Orange, New Jersey
AtlantiCare - Diagnostic Clinical Laboratory Services 2022-05-09 - Divestiture
Atlantic City, New Jersey
Personal Genome Diagnostics, Inc. 2021-12-23 575M USD Add-on Acquisition
Baltimore, Maryland · www.personalgenome.com
Toxikon Corp. 2021-11-18 - Add-on Acquisition
Bedford, Massachusetts · www.toxikon.com
Ovuline, Inc. 2021-08-12 - Add-on Acquisition
Boston, Massachusetts · www.oviahealth.com
Covance, Inc. 2021-05-20 - Divestiture
Princeton, New Jersey · www.covance.com
Myriad Autoimmune's Vectra Testing Business 2021-05-03 150M USD Divestiture
Salt Lake City, Utah
South Bend Medical Foundation - Diagnostic Clinical Laboratory Assets 2019-10-22 - Divestiture
, Indiana
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Safe Foods International Holdings LLC 2015-10-23 The National Food Laboratory LLC 2015-10-23 2
Washington, District of Columbia · www.safefoodinternational.org Livermore, California · www.thenfl.com
Safe Foods International Holdings LLC 2015-10-23 International Food Network LLC 2015-10-23 1
Washington, District of Columbia · www.safefoodinternational.org Ithaca, New York · www.intlfoodnetwork.com
NWT, Inc. 2008-01-24 Tandem Labs, Inc. 2008-01-24 1
Salt Lake City, Utah Salt Lake City, Utah · www.tandemlabs.com

M&A by Sector

Sector Buy # Value Sell # Value
Life Science 21 (48%) 9.7B (87%) 1 (50%) -
Healthcare Services 13 (30%) 1.3B (11%) - -
Test/Measurement Equipment 5 (11%) 150M (1%) - -
Business Services 4 (9%) - 1 (50%) 670M (100%)
Medical Products 1 (2%) 63M (1%) - -
Total 44 $11.2B 2 $670M

By Geo

State/Country Buy Value Sell Value
United States 42 11.2B 2 670M
  California 8 526M 1 670M
  Massachusetts 5 925M - -
  New Jersey 4 6.3B 1 -
  Indiana 3 - - -
  Utah 3 150M - -
  Connecticut 2 598M - -
  Washington 2 - - -
  Texas 2 630M - -
  Tennessee 2 1.2B - -
  North Carolina 2 63M - -
  New York 2 - - -
  Minnesota 1 241M - -
  Maryland 1 575M - -
  Illinois 1 - - -
  District of Columbia 1 - - -
  Delaware 1 - - -
  Virginia 1 - - -
Canada 2 - - -
  Quebec 1 - - -
  Ontario 1 - - -
Domestic 42 (95%) 11.2B (100%) 2 (100%) 670M (100%)
Cross-border 2 (5%) - - -
Total 44 $11.2B 2 $670M

Top M&A Advisors

Financial Deals
Lazard Ltd.
 2
J.P. Morgan Securities
 1
BofA Securities
 1
Legal Deals
Hogan Lovells
 5
Kilpatrick Townsend & Stockton LLP
 2
Sullivan & Cromwell
 1

Deal Values

buy # Total
> $1B 2 $7.4B
$100M to $1B 9 $3.6B
< $100M 2 $148M
TOTAL $11.2B
Largest Covance, Inc.
$6.2B (2014-11-03)
sell # Total
$100M to $1B 1 $670M
TOTAL $670M
Largest Covance Food Solutions
$670M (2018-08-01)

M&A Connections

Deals
Acquired from
Investor(s)
11%
5 (11%)
Strategic(s)
36%
16 (36%)
Divested to
Strategic(s)
100%
2 (100%)

Company Summary

SECTOR

Test/Measurement Equipment

Revenue

14,877   8% 2022
16,121   16% 2021
13,979   21% 2020
11,555   2% 2019
11,333   9% 2018
10,441   9% 2017
9,642   12% 2016
8,680   45% 2015
6,012   4% 2014
5,808   3% 2013
5,671   2012
(millions of USD) Show More Show Less

Employees

70,400

Established

1994

Public

NYSE: LH

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