Laboratory Corp of America Holdings was founded in 1971, is an independent clinical laboratory company in the United States. The Company along with its subsidiaries provides clinical laboratory services and end-to-end drug development support. Its segments include LabCorp Diagnostics (LCD) and Covance Drug Development (CDD). LCD is an independent clinical laboratory business offers a focused menu of routine and frequently ordered tests with the ability to perform quickly and report the results to the physician. CDD offers drug development services, provides a range of drug development solutions, to companies in the pharmaceutical and biotechnology industries. LCD offers its diagnostic services through a sales force focused on serving the specific needs of customers in different market segments. These market segments generally include Primary Care, Obstetrics-Gynecology, Specialty Medicine (e.g., Infectious Disease, Endocrinology, Gastroenterology and Rheumatology), Oncology and Hospitals. CDD's sales activities are conducted by sales personnel in North America, Europe, South America and the Asia Pacific region. The sales force provides client coverage across the biopharmaceutical industry for services including optimization, preclinical safety assessment, analytical services, clinical solutions, central laboratories and market access solutions. LCD competes on the basis of quality of testing, breadth of menu, price, innovation of services, convenience and access points throughout the nation. The Company is subject to licensing and regulation under federal, state and local laws and regulations relating to the protection of the environment and human health and safety and laws and regulations relating to the handling, transportation and disposal of medical specimens, infectious and hazardous waste and radioactive materials.
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