Labcorp Holdings Inc.
Company History
Labcorp History: Founding, Growth & Key Milestones
Founded 1995 in Burlington, North Carolina
When was Labcorp founded?
Labcorp was founded in 1995 in Burlington, North Carolina by National Health Laboratories and Roche Biomedical Laboratories, making it 31 years old.
- Founded
- 1995
- Founding place
- Burlington, North Carolina
- Founders
- National Health Laboratories and Roche Biomedical Laboratories
- Headquarters today
- Burlington, North Carolina
- Milestones documented
- 12 (1971–2026)
- Current CEO
- Adam H. Schechter
- Acquisitions
- 5
| Year | Event |
|---|---|
| 1971 | Revlon acquires the NHL predecessor |
| 1988 | National Health Laboratories goes public |
| 1995 | Merger creates Laboratory Corporation of America |
| 2007 | David P. King becomes CEO |
| 2015 | $6.1 billion Covance acquisition |
| 2016 | Sequenom Acquired |
| 2017 | Chiltern Acquired |
| 2019 | Adam H. Schechter becomes CEO |
| 2020 | COVID-19 testing and at-home collection |
| 2023 | Fortrea spin-off |
| 2025 | $13.95 billion revenue and 750 million tests |
| 2026 | Guidance raised and buyback expanded |
- Where was Labcorp founded?
- Labcorp was founded in Burlington, North Carolina in 1995.
- Who founded Labcorp?
- Labcorp was founded by National Health Laboratories and Roche Biomedical Laboratories.
- When did Labcorp start?
- Labcorp was founded in 1995.
- How old is Labcorp?
- Labcorp is 31 years old as of 2026.
Founding Story
Labcorp's roots run through two lab chains. National Health Laboratories began as DCL BioMedical, a clinical lab business founded in 1968 and bought by Revlon in 1971; it took the NHL name in 1974, came under Ronald Perelman's MacAndrews & Forbes after 1985, and listed publicly in 1988. Roche Biomedical Laboratories, Hoffmann-La Roche's US testing arm, was established in 1978 and based in Burlington, North Carolina. In April 1995 Roche contributed Roche Biomedical and $186.7 million in cash to National Health Laboratories Holdings for 49.9% of the combined company, which was renamed Laboratory Corporation of America Holdings and moved its headquarters to Burlington. Roche sold its remaining stake in 2002, and the company adopted the legal name Labcorp Holdings Inc. in 2024.
Founders
National Health Laboratories
National Health Laboratories started as DCL BioMedical, a clinical laboratory business founded in 1968. Revlon acquired it in 1971 and renamed it in 1974; by 1977 it ran testing labs in 13 cities. It went public on NASDAQ in 1988, moved to the NYSE in 1991, and in 1995 combined with Roche Biomedical Laboratories to form Labcorp. James B. Powell, MD, led NHL and became the first CEO of the merged company. (Exact birth year remains publicly undisclosed).
Roche Biomedical Laboratories
Roche Biomedical Laboratories was Hoffmann-La Roche's US clinical testing subsidiary, based in Burlington, North Carolina. In April 1995 Roche contributed the business plus $186.7 million in cash to National Health Laboratories Holdings in exchange for 49.9% of the combined company, which became Laboratory Corporation of America Holdings. Roche sold its remaining Labcorp shares in 2002. (Exact birth year remains publicly undisclosed).
Key Milestones
Revlon acquires the NHL predecessor
Revlon buys DCL BioMedical, a clinical lab business founded in 1968; it is renamed National Health Laboratories in 1974.
Source: en.wikipedia.orgNational Health Laboratories goes public
NHL lists on NASDAQ, moving to the New York Stock Exchange in 1991.
Source: en.wikipedia.orgMerger creates Laboratory Corporation of America
Roche contributes Roche Biomedical Laboratories and $186.7 million in cash for 49.9% of NHL Holdings; the combined company is renamed and moves to Burlington, North Carolina.
Source: en.wikipedia.orgDavid P. King becomes CEO
David P. King became CEO of Labcorp Holdings in 2007. Expanded Labcorp from a US clinical lab into a combined diagnostics and drug development company.
Source: en.wikipedia.org$6.1 billion Covance acquisition
Labcorp buys contract research organization Covance, adding central laboratory and drug development services.
Source: en.wikipedia.orgSequenom Acquired
LabCorp bought the prenatal-testing company Sequenom in 2016.
Source: en.wikipedia.orgChiltern Acquired
LabCorp bought the contract research organisation Chiltern in 2017 for about $1.2 billion.
Source: en.wikipedia.orgAdam H. Schechter becomes CEO
Adam H. Schechter became CEO of Labcorp Holdings in 2019. Under Schechter revenue reached $13.95 billion in 2025 with adjusted EPS of $16.44, and 2026 guidance was raised to $18.10-$18.55 adjusted EPS.
Source: en.wikipedia.orgCOVID-19 testing and at-home collection
Labcorp receives FDA emergency use authorization for a SARS-CoV-2 test in March and launches the first at-home COVID-19 collection kit in April.
Source: en.wikipedia.orgFortrea spin-off
Labcorp completes the June 2023 spin-off of its clinical development business as Fortrea Holdings (NASDAQ: FTRE).
Source: en.wikipedia.org$13.95 billion revenue and 750 million tests
Labcorp grows revenue 7.2% to $13.95 billion, launches more than 130 new tests, and signs or closes 13 health-system and regional lab deals.
Source: prnewswire.comGuidance raised and buyback expanded
After Q2 revenue of $3.73 billion, Labcorp raises 2026 guidance, adds $1.0 billion to its repurchase authorization, and launches Marker by Labcorp and ColoSense nationwide.
Source: prnewswire.comMajor Acquisitions
Covance Inc.
2015Labcorp 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.
2016Labcorp 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)
2022Labcorp 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)
2024Labcorp 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)
2024Labcorp 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.
Keep researching Labcorp
Labcorp Company History FAQ
When was Biomedical Reference Laboratories founded in Burlington, NC?
Biomedical Reference Laboratories was founded in 1969 in Burlington, North Carolina, by Dr. James B. Powell and his brothers, pioneering computerized medical diagnostic testing in the Research Triangle.
When was Roche Biomedical Laboratories formed?
In 1982, Swiss pharmaceutical conglomerate Hoffmann-La Roche acquired Biomedical Reference Laboratories and merged it with several other regional diagnostic laboratories to form Roche Biomedical Laboratories.
When was Laboratory Corporation of America (Labcorp) formed through the 1995 merger?
On April 28, 1995, Roche Biomedical Laboratories and National Health Laboratories merged in a historic multi-billion-dollar transaction to create Laboratory Corporation of America Holdings (Labcorp), listed on the NYSE under ticker 'LH'.
When did Labcorp acquire Dianon Systems to expand anatomic pathology?
In January 2003, Labcorp acquired Dianon Systems for $598 million, establishing dominant market leadership in specialized anatomic pathology, dermatopathology, and gastrointestinal histology testing.
When did Labcorp acquire Covance in a transformative $6.1 billion transaction?
In February 2015, Labcorp completed the $6.1 billion acquisition of Covance Inc., integrating central laboratory clinical trial testing and drug development into its core healthcare diagnostics business.
How did Labcorp lead the American diagnostic response to the COVID-19 pandemic?
In March 2020, Labcorp became one of the first commercial laboratories in the US to receive FDA Emergency Use Authorization for molecular COVID-19 testing, ultimately performing over 75 million tests and launching the first at-home collection test kit (Pixel by Labcorp).
When did Labcorp complete the spin-off of Fortrea in 2023?
On June 30, 2023, Labcorp completed the tax-free spin-off of its Clinical Development business into independent public company Fortrea Holdings Inc. (NASDAQ: FTRE), refocusing Labcorp purely on clinical and biopharma diagnostic testing.
What is Labcorp's scale and leadership standing in global healthcare today?
Today, Labcorp operates over 2,000 Patient Service Centers, processing tests for 160 million patient encounters annually with $14B in revenue, standing as the benchmark in clinical diagnostics and precision medicine.
How did Labcorp start?
Labcorp (Laboratory Corporation of America) was officially formed in 1995 through a massive, historic mega-merger. National Health Laboratories (founded in 1969 by Revlon) merged with Roche Biomedical Laboratories. The combined entity instantly created one of the absolute largest clinical laboratory networks in the world, headquartered in Burlington, North Carolina.
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