$LH (Laboratory Corp. of America Holdings)

$LH {{ '2016-09-20T13:13:16+0000' | timeago}} • Announcement

Healthcare diagnostics company $LH said John Ratliff will succeed Deborah Keller as CEO of Covance Drug Development, effective October 1. Mr. Ratliff will be a member of the company's executive committee and will report to David P. King, chairman and CEO of $LH.

$LH {{ '2017-07-18T13:30:08+0000' | timeago}} • Announcement

Insurance company $LH said its CEO William Hanlon has been appointed as a member of the governing committee of the National Evaluation System for Health Technology Coordinating Center. Hanlon has been focused on early and late-stage clinical development, as a regulatory affairs expert, for the past several years.

$LH {{ '2017-07-11T13:10:40+0000' | timeago}} • Announcement

$LH and Novant Health agreed to a multi-year extension of their Technical Services Agreement, which was first implemented in 2012. Under the agreement, $LH provides Novant Health with laboratory management services for all Novant Health acute care facilities.

$LH {{ '2017-07-03T14:14:49+0000' | timeago}} • Announcement

$LH is offering an option to convert its Zero Coupon Convertible Subordinated Notes due 2021, into cash and common stock, by surrendering the same on or before the close of business on September 29, 2017.  The notes surrendered for conversion must be delivered through the transmittal procedures of the Depository Trust Company.

$WBA {{ '2017-06-29T16:12:04+0000' | timeago}} • Announcement

$WBA and $LH announced a collaboration through which $LH will develop and operate patient service centers within select $WBA stores. The centers, which will be co-branded "LabCorp at Walgreens," will offer LabCorp patient services in a secure, comfortable environment for specimen collection, located near the pharmacy area inside the store.

$LH {{ '2017-05-04T21:14:17+0000' | timeago}} • Announcement

$LH completed the acquisition of Pathology Associates Medical Laboratories (PAML) from former owners Providence Health & Services and Catholic Health Initiatives. In addition, PAML, as a LabCorp subsidiary, acquired assets of Alpha Medical Laboratories (Alpha), a former PAML-affiliated JV, from its hospital owner.

$LH {{ '2017-05-03T13:13:01+0000' | timeago}} • Announcement

$LH announced a significant enhancement to its proprietary VistaSeq Hereditary Cancer portfolio, with 10 new test panels focusing on the risk of specific hereditary cancer syndromes. The number of cancer genes that can be assessed has also lifted to 59 to reflect advances in understanding of cancer genetics.

$LH {{ '2017-05-01T13:03:48+0000' | timeago}} • Announcement

$LH has completed the acquisition of Mount Sinai Health System Clinical Outreach Laboratories. Mount Sinai will continue to provide laboratory testing for patients registered at its hospitals and ambulatory facilities, as well as laboratory testing services for physicians in their professional practices.

$LH {{ '2017-04-25T11:53:03+0000' | timeago}} • Announcement

$LH lowered its 2017 adjusted EPS guidance to $9.20-9.60 from $9.35-9.75, due to the decline in expected revenue growth. The revised adjusted EPS forecast represents an increase of about 4-9% as compared to $8.83 in 2016. The company still predicts free cash flow of $925-975MM, an increase of about 3-9% over the prior year.

$LH {{ '2017-04-25T11:51:15+0000' | timeago}} • Announcement

$LH now sees 2017 net revenue growth of 3.5-5.5% over 2016 revenue of $9.44Bil, which equates to constant currency growth of 3.9-5.9%. This is 100 basis points lower than prior guidance of 4.5-6.5% due to a decline in expected revenue growth in Covance Drug Development, partially offset by higher expected revenue growth in LabCorp Diagnostics.

$LH {{ '2017-04-25T11:46:41+0000' | timeago}} • Announcement

$LH posted a rise in 1Q17 earnings on price, mix, acquisitions and productivity as well as lower restructuring charges and special items.  Net income rose to $192.5MM or $1.84 per share from $164.4MM or $1.58 per share in 1Q16. Revenue grew 4.9% to $2.45Bil, on strong growth in LabCorp Diagnostics. Adjusted EPS increased to $2.22 from $2.05.

$LH {{ '2017-03-29T12:03:04+0000' | timeago}} • Announcement

$LH has promoted Gary Huff as CEO of its LabCorp Diagnostics business segment, effective immediately. He will report to $LH’s Chairman and CEO David King.

$LH {{ '2017-03-13T13:14:15+0000' | timeago}} • Announcement

$LH posted that its zero coupon convertible subordinated notes due 2021 will accrue contingent cash interest for the period of Mar 12, 2017 to Sep 11, 2017. The interest, in addition to the original issue discount, will be a rate of no less than 0.125% of the average market price of the note for 5 trading days ended Mar 8, 2017.

$LH {{ '2017-02-24T13:33:04+0000' | timeago}} • Announcement

$LH agreed to buy all of the ownership interest in Pathology Associates Medical Laboratories, LLC, (PAML), a healthcare solutions company jointly owned by Providence Health & Services and Catholic Health Initiatives. The parties anticipate that transaction closings will begin in 2017 and continue into 2018.

$LH {{ '2017-02-16T14:41:18+0000' | timeago}} • Webcast

$LH's 4Q16-end cash balance was $434MM, down from $568MM at the end of 3Q16, while total debt was about $5.8Bil. LabCorp Diagnostics's revenue rose 7.8% YonY to $1.7Bil, driven by acquisition, price mix and organic volume.

$LH {{ '2017-02-16T14:35:00+0000' | timeago}} • Webcast

In 4Q16, $LH recorded $10MM or restructuring charges, mainly related to the ongoing consolidation of the company's drug development operation and associated severance. $LH's CapEx totaled $74MM or 3.1% of revenue, down from $85MM or 3.8% a year ago. Consequently, free cash flow was $375MM in 4Q16, up from $300MM a year ago.

$LH {{ '2017-02-16T13:05:43+0000' | timeago}} • Announcement

For 2017, $LH expects revenue to grow 4.5-6.5% over 2016 revenue of $9.44Bil. Adjusted EPS is expected to grow approx. 6-10% to $9.35-9.75 compared to $8.83 in 2016. LabCorp Diagnostics segment revenue is expected to grow 4.5-6.5% and Covance Drug Development revenue is expected to grow 3.5-5.5% over 2016.

$LH {{ '2017-02-16T13:00:19+0000' | timeago}} • Announcement

$LH reported a 68% increase in its 4Q16 profit, helped by acquisitions and strong organic growth. Net earnings were $184.4MM or $1.75 per share compared to $110MM or $1.07 per share in the prior year quarter. Revenue rose 6.3% YoY to $2.39Bil. Adjusted EPS increased 8.6% to $2.15 in the recently ended quarter.

$LH {{ '2017-01-10T14:08:20+0000' | timeago}} • Announcement

$LH agreed to buy assets of the Mount Sinai Health System's Clinical Outreach Laboratories. When the transaction is complete, $LH will be available to provide comprehensive laboratory services to physicians and patients that currently use Mount Sinai's outreach laboratory. The transaction is expected to close in 1Q17.

$LH {{ '2016-10-26T12:46:46+0000' | timeago}} • Announcement

$LH said its LabCorp Diagnostics segment net revenue for 3Q16 rose 4.4% YoverY, on price, mix and acquisitions, partially offset by organic volume and negative impact of currency translation. For Covance Drug Development segment, net revenue grew 4.8%, on broad-based demand, partially offset by the negative impact of foreign currency translation.

$LH {{ '2016-10-26T12:43:43+0000' | timeago}} • Announcement

For FY16, $LH said it expects net revenue growth of 10-11% over 2015 net revenue of $8.51Bil, which includes the impact from about 50 basis points of negative currency. This is an increase from prior guidance of 9.5-10.5%, primarily due to the purchase of Sequenom. Adjusted EPS expectation is of $8.70-8.90, versus prior guidance of $8.60-8.95.

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