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Labcorp Holdings Inc.

Clinical Laboratory Services and Biopharma Laboratory ServicesFounded 1995
Reviewed by Swet Parvadiya
Company data updated: October 2026

Acquisitions

Labcorp Acquisitions

5

Major Deals Covered

$6.9B

Disclosed Deal Value

What are Labcorp's biggest acquisitions?

Labcorp's largest disclosed acquisition here is Covance Inc. for $6.1B in 2015. This page covers 5 major deals from 2015 to 2024, each with its price where disclosed and the reason behind it.

Major deals covered
5
Largest deal
Covance Inc. ($6.1B)
First deal
2015
Most recent
2024
CompanyYearPricePurpose
Covance Inc.2015$6.1BLabcorp acquired Covance to create an integrated healthcare diagnostics company spanning drug development and patient diagnostics. Covance was a leading contract research organization providing central laboratory services, toxicology, and clinical trial management. The acquisition was expected to generate annual cost synergies exceeding $100 million within three years.
Sequenom Inc.2016$371.0MLabcorp acquired Sequenom in September 2016 for about $371 million including debt to add non-invasive prenatal testing, including the MaterniT21 test.
Personal Genome Diagnostics (PGDx)2022$450.0MLabcorp acquired PGDx in February 2022 for $450 million in cash plus a potential $125 million earn-out, adding liquid biopsy and tissue-based genomic profiling for oncology.
Invitae (select assets)2024UndisclosedLabcorp acquired select assets of Invitae, a genetic testing company, to advance its strategy to launch and scale specialty testing in oncology and rare diseases. The acquisition added genetic counseling capabilities, variant interpretation expertise, and a broad genetic test menu.
BioReference Health (diagnostic business)2024UndisclosedLabcorp acquired select assets of BioReference Health's diagnostic business to increase access to Labcorp's clinical laboratory services, with a focus on clinical diagnostics and reproductive and women's health.
What companies has Labcorp bought?
Major acquisitions by Labcorp documented here include Covance Inc. (2015), Personal Genome Diagnostics (PGDx) (2022), Sequenom Inc. (2016), Invitae (select assets) (2024) and BioReference Health (diagnostic business) (2024).
What is Labcorp's most recent acquisition?
The most recent Labcorp acquisition documented here is Invitae (select assets), in 2024.

Invitae (select assets)

2024

Why

Labcorp acquired select assets of Invitae, a genetic testing company, to advance its strategy to launch and scale specialty testing in oncology and rare diseases. The acquisition added genetic counseling capabilities, variant interpretation expertise, and a broad genetic test menu.

Impact

The Invitae asset acquisition expanded Labcorp's genetic and genomic testing capabilities, particularly in hereditary cancer and rare disease diagnostics. The acquisition also added a platform for consumer-facing genetic testing services that could complement Labcorp's traditional physician-ordered testing model.

Outcome

The acquisition is too recent for full evaluation, but it aligns with Labcorp's stated strategy of expanding specialty testing capabilities. The integration of Invitae's assets with Labcorp's existing infrastructure and payer relationships could create synergies in genetic test commercialization.

Source →

BioReference Health (diagnostic business)

2024

Why

Labcorp acquired select assets of BioReference Health's diagnostic business to increase access to Labcorp's clinical laboratory services, with a focus on clinical diagnostics and reproductive and women's health.

Impact

The acquisition expanded Labcorp's geographic presence and customer base in key diagnostic testing markets. BioReference's reproductive health capabilities complemented Labcorp's existing women's health portfolio, while the clinical diagnostics assets added volume and infrastructure.

Outcome

The acquisition is considered a tuck-in deal that fills geographic and capability gaps. The integration is ongoing, with expected benefits from combined operations and cross-selling opportunities.

Source →

Personal Genome Diagnostics (PGDx)

2022

$450M

Why

Labcorp acquired PGDx in February 2022 for $450 million in cash plus a potential $125 million earn-out, adding liquid biopsy and tissue-based genomic profiling for oncology.

Impact

The acquisition strengthened Labcorp's position in precision medicine and companion diagnostic development for cancer therapies. PGDx's capabilities complemented Labcorp's existing oncology testing menu and provided a platform for developing proprietary liquid biopsy tests.

Outcome

The acquisition is considered important, supporting Labcorp's specialty testing expansion in oncology. The liquid biopsy market is growing rapidly, and PGDx's technology provides a foundation for Labcorp's competitive positioning against Guardant Health and Foundation Medicine.

Source →

Sequenom Inc.

2016

$371M

Why

Labcorp acquired Sequenom in September 2016 for about $371 million including debt to add non-invasive prenatal testing, including the MaterniT21 test.

Impact

The acquisition made Labcorp a leader in prenatal genetic testing and expanded reproductive health capabilities. Sequenom's MaterniT21 test was one of the first commercially available NIPT products, and the acquisition provided Labcorp with established relationships with obstetricians and maternal-fetal medicine specialists.

Outcome

The acquisition is considered successful, with NIPT and women's health genetic screening remaining important components of Labcorp's specialty testing portfolio. The Sequenom technology platform has been integrated into Labcorp's broader genetic testing capabilities.

Source →

Covance Inc.

2015

$6.1B

Why

Labcorp acquired Covance to create an integrated healthcare diagnostics company spanning drug development and patient diagnostics. Covance was a leading contract research organization providing central laboratory services, toxicology, and clinical trial management. The acquisition was expected to generate annual cost synergies exceeding $100 million within three years.

Impact

Covance added drug development services and international operations, giving Labcorp a second segment beyond US diagnostics.

Outcome

The deal was partly reversed by the 2023 Fortrea spin-off, which took Covance's clinical development operations. Labcorp kept the central lab and early development businesses, now Biopharma Laboratory Services ($3.10 billion of 2025 revenue, $8.72 billion backlog).

Source →

Labcorp Holdings Inc.'s Growth & Acquisition Strategy

Labcorp's stated priorities are leading in specialty testing, being the partner of choice for health systems and regional labs, growing consumer health, and using technology and AI to cut cost. In 2025 it launched more than 130 new tests and signed or closed 13 health-system and regional lab transactions; 2026 deals include outreach assets from Crouse Health, Parkview Health, and Tribal Diagnostics. The MyLabcorp app and Labcorp OnDemand push direct-to-consumer testing.

How Labcorp Holdings Inc. Makes Money

Labcorp makes money in two segments. Diagnostics Laboratories ($10.88 billion of 2025 revenue, about 78%) collects specimens through roughly 2,000 patient service centers, in-office phlebotomists, and courier and aircraft routes, runs routine and specialty tests in automated labs, and bills commercial insurers, Medicare and Medicaid, physicians, hospitals, and consumers. Biopharma Laboratory Services ($3.10 billion, about 22%) earns contract fees from drug, biotech, and device companies for central-laboratory testing in clinical trials and early-development (preclinical) studies; it ended 2025 with an $8.72 billion backlog. Hospital lab management and outreach acquisitions feed additional volume into the diagnostics network.

Labcorp Acquisitions FAQ

When did Labcorp acquire Covance and why was it a landmark transaction?

In February 2015, Labcorp acquired global contract research organization (CRO) Covance Inc. for $6.1 billion, combining high-quality clinical laboratory diagnostics with pharmaceutical drug development and central trial testing services.

When did Labcorp acquire genomics pioneer Sequenom?

In September 2016, Labcorp acquired non-invasive prenatal testing (NIPT) pioneer Sequenom for $371 million, securing the proprietary MaterniT21 cell-free fetal DNA screening technology and expanding its leadership in reproductive genetics.

When did Labcorp acquire oncology genomics leader Personal Genome Diagnostics (PGDx)?

In February 2022, Labcorp acquired Personal Genome Diagnostics (PGDx) for $450 million in cash plus milestones, adding FDA-cleared tissue and liquid biopsy next-generation sequencing (NGS) kits to decentralize precision oncology testing.

When did Labcorp acquire the outreach laboratory assets of Ascension Health?

In 2022, Labcorp completed the landmark acquisition of the outreach laboratory business and clinical assets of Ascension Health, one of the largest private healthcare systems in the US, significantly expanding diagnostic testing volume across multiple states.

When did Labcorp acquire specialty toxicology leader MedTox Scientific?

In June 2012, Labcorp acquired MedTox Scientific for $241 million, strengthening its specialized clinical laboratory testing, workplace drug screening, and specialized toxicology services.

When did Labcorp acquire women's health testing leader Genzyme Genetics?

In December 2010, Labcorp acquired Genzyme Genetics from Genzyme Corporation for $925 million in cash, establishing premier clinical market share in prenatal screening, maternal serum testing, and reproductive genetics.

When did Labcorp acquire autoimmune diagnostics leader Monogram Biosciences?

In August 2009, Labcorp acquired Monogram Biosciences for $106 million, obtaining proprietary molecular diagnostics and viral resistance phenotyping assays used to guide targeted HIV therapies.

What is Labcorp's strategic criteria for healthcare acquisitions?

Labcorp targets accretive acquisitions of regional health system lab outreach businesses, proprietary precision oncology and genomics innovators, and specialized central biopharma testing providers that leverage Labcorp's national laboratory footprint.

What companies has Labcorp acquired?

The absolute most important acquisition in the company's history occurred in 2015 when Labcorp bought Covance for a staggering $6.1 billion. Covance was one of the world's largest Contract Research Organizations (CROs). This brilliantly transformed Labcorp from just a "blood testing" company into a massive partner for pharmaceutical companies developing new drugs. (They later spun a portion of this off as Fortrea).

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.