Labcorp’s $239 million offer was selected as the winning bid for the assets of genetic testing company Invitae, which filed for bankruptcy protection earlier this year. The acquisition deal, Labcorp's second in the past month, will enable it to expand in oncology and rare diseases.
Labcorp is buying the clinical diagnostics and reproductive women’s health businesses of BioReference Health, excluding those assets in New York and New Jersey. Labcorp has returned to being fully focused on lab testing after last year’s spinoff of Fortrea, its former clinical trial services business.
The future looks bright for the integrated specialty pharmacy model – for health systems, providers, and most importantly, for patients.
Enzo BioChem’s sale of its clinical lab business to Labcorp is the culmination of a monthslong strategic review. Meanwhile, diagnostics and lab testing giant Labcorp is in the middle of its own corporate shakeup as it readies its clinical trials business for a spinoff as a standalone, publicly traded company.
Laboratory testing and clinical trial services giant LabCorp plans to spin off its drug development business as an independent, publicly traded company. It’s the latest in a string of corporate moves for the life sciences sector as companies look to streamline operations in order to focus on particular areas of growth.
The Food and Drug Administration granted an emergency use authorization for an at-home Covid-19 and flu test kit by Labcorp. It uses a test that was developed by Roche and authorized last year.
The company purchased digital health company Ovia Health for an undisclosed amount. It makes apps for fertility tracking, pregnancy stages and parenting advice.
As technology advances, AI-powered tools will increasingly reduce the administrative burdens on healthcare providers.
Starting in January, Medicare will pay $75 for tests that take longer than two days to deliver results. It currently pays $100 for each high-throughput Covid-19 test.
Late last month, Medable and LabCorp CRO Covance signed a deal to accelerate adoption of decentralized trials, a trend that has been helped along as Covid-19 has created challenges to conducting trials dependent on traditional brick-and-mortar sites.
The agency reissued the emergency use authorization that it gave to LabCorp last month for its RT-PCR test to allow for collection of samples at home by patients, with a doctor's order.
The San Francisco-based startup is one of several that have been raising money over the past couple of weeks in areas like neurology, oncology and women's health.
Closing cancer health equity gaps require medical breakthroughs made possible by new funding approaches.
The EUAs follow the ones the agency gave last week to Roche and Thermo Fisher Scientific. The agency is also allowing states to take greater responsibility for authorizing tests for the SARS-CoV-2 virus.
While all these companies have been involved in developing testing, vaccines and drugs for SARS-CoV-2, fears related to the global coronavirus pandemic have taken their toll on them as well as firms in other sectors.
AMCA has told LabCorp that it is in the process of sending notices to the approximately 200,000 of the company's consumers whose credit card or bank account information may have been accessed and will offer them identity protection and credit monitoring services for 24 months.
Growth in the CRO sector is expected to accompany growth of clinical trials, their complexity and regulatory requirements.
Beginning this summer, Doctor On Demand, a San Francisco, California-based telemedicine startup, will offer laboratory testing services.