Labcorp Acquires Digital Pregnancy Platform Provider For Undisclosed Amount - Laboratory Corp (NYSE:LH)

The clinical testing giant Laboratory Corp of America Holdings LH picked up Ovia Health, developer of a digital platform for tracking pregnancies and coaching new parents through infancy.
The acquisition marks a new step in Labcorp’s commercial push into the booming femtech (female technology) space after an investment in Ovia last year.
The financial terms were not disclosed, but Ovia has clocked about $20 million in annual revenue.
Ovia offers on-demand coaching services, including baby sleep training and breastfeeding, and tools for following ovulation cycles and fetal development.
Labcorp expects Ovia’s offerings for patients to complement the menu of tests and services it already provides to OB-GYNs and primary care physicians, including genetic carrier screening and counseling.
Ovia says more than 15 million families have used its programs.
Price Action: LH shares are up 0.79% at $302.88 during the market session on the last check Friday.