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Labcorp Lays out Priorities and Progress in Corporate Responsibility Report

Company Focuses on Sustainable Environmental, Health and Safety Performance, and Advancing Diversity and Inclusion

BURLINGTON, N.C.--(BUSINESS WIRE)--Mar. 25, 2021-- Labcorp (NYSE: LH), a leading global life sciences company, today issued its 2019-2020 Corporate Responsibility Report: Making a Difference When It Counts. The report includes the ways in which Labcorp carries out its mission of improving health and improving lives, and charts its progress on priorities including the company’s environmental, health, and safety performance, as well as its community partnerships and its commitments to advancing diversity and inclusion.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210325005453/en/

Photo courtesy of Labcorp

Photo courtesy of Labcorp

Highlights from 2019-2020 include:

  • Mobilizing vast parts of the company’s more than 70,000 employees to fight COVID-19 and provide support for the response to the pandemic, including developing innovative COVID-19 tests and delivering these tests to tens of millions of patients, and performing vital research on new vaccines and therapeutics.
  • Conducting more than $1 billion worth of transactions annually with small businesses owned by minorities, women, veterans, and economically disadvantaged groups.
  • Advancing the company’s commitment to sustainability, including reducing carbon emissions, increasing recycling, and making facilities more energy efficient.
  • Creating a more diverse and inclusive workforce, establishing employee resource groups at sites around the world, and improving employee health and wellness.
  • Investing in the communities in which Labcorp operates, including supporting educational initiatives such as a $1 million donation to Alamance Community College in North Carolina, enhancing diabetes education among at-risk communities in Canada, and helping to provide a clean and reliable water supply to several communities in India.

“I’m incredibly proud of the tireless work our employees have done, especially over this past year, to deliver science-based innovation and timely, trusted information to everyone from doctors and drug developers to governments and patients,” said Adam Schechter, chairman and CEO, Labcorp. “We made tremendous progress on our priorities around sustainable environmental, health and safety performance, as well as our community partnerships and commitments to advancing diversity and inclusion. We are committed to serving all of our stakeholders with ethics and integrity as we build on the progress outlined in this year’s Corporate Responsibility Report and come together to meet the challenges ahead and build a better tomorrow.”

About Labcorp

Labcorp is a leading global life sciences company that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. Through our unparalleled diagnostics and drug development capabilities, we provide insights and accelerate innovations to improve health and improve lives. With more than 70,000 employees, we serve clients in more than 100 countries. Labcorp (NYSE: LH) reported revenue of $14 billion in FY2020. Learn more about us at www.Labcorp.com or follow us on LinkedIn and Twitter @Labcorp.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements, including but not limited to statements with respect to recognition and reputation of the Company. Each of the forward-looking statements is subject to change based on various important factors, many of which are beyond the Company’s control, including without limitation, the COVID-19 pandemic and its impact on our business and financial condition as well as general economic, business, and market conditions, competitive actions and other unforeseen changes and general uncertainties in the marketplace, changes in government regulations, including healthcare reform, customer purchasing decisions, including changes in payer regulations or policies, other adverse actions of governmental and third-party payers, changes in testing guidelines or recommendations, federal, state, and local governmental responses to the COVID-19 pandemic, the effect of public opinion on the Company’s reputation, adverse results in material litigation matters, failure to maintain or develop customer relationships, our ability to develop or acquire new products and adapt to technological changes, failure in information technology, systems or data security, the number of revenue days in a financial period, personnel costs, and the effect of exchange rate fluctuations, and employee relations. These factors, in some cases, have affected and in the future (together with other factors) could affect the Company’s ability to implement the Company’s business strategy and actual results could differ materially from those suggested by these forward-looking statements. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements. The Company has no obligation to provide any updates to these forward-looking statements even if its expectations change. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. Further information on potential factors, risks and uncertainties that could affect operating and financial results is included in the Company’s most recent Annual Report on Form 10-K and subsequent Forms 10-Q, including in each case under the heading RISK FACTORS, and in the Company’s other filings with the SEC.

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Labcorp Contacts:
Media: Christopher Allman-Bradshaw — 336-436-8263
Media@Labcorp.com

Investors: Chas Cook -- 336-436-5076
Investor@Labcorp.com

Source: Labcorp