The stock of Laboratory Corp (NYSE:LH) closed at $160.85 gaining 0.06% in yesterday’s trading session. Laboratory Corp is currently moving on with its acquisition spree but it is critical to point out that it has constantly faced reimbursement headwinds.
Just like the rest of the top stocks around the globe, this company has been looking forward sharpening its competitive the in the market. Its dream is to ramp up its diverse operations so that in the near future it will be able to transform itself into a worldwide life science and diagnostic company. To achieve this particular goal it is currently laying down numerous plans, one of them being the topping up of its staff with more competent officials to help revamp its business operations.
The company is proud of its accomplishments. At the moment, it has succeeded making the purchase of about 19 companies and that is between 2008 to the present. They have been undertakings that have cost the company about $2.5 billion. Back in 2005, the company proceeded to purchase Covance and it exuded confidence outlining that the investment was going to push them a notch higher as well as it give it an edge over rivals.
One thing that is quite notable is the fact that there has been an outstanding surge in LabCorp’s workforce and that is both globally and in the Triad.
An officail working with the company in a recent interview said, “The company now employs more than 57,000 globally and 4,884 in the region. This has enabled LabCorp to become the eighth-largest employer in the Triad and the state’s 10th-largest public company. Through its acquisitions, LabCorp has diversified, enabling it to adapt to an evolving health care market.”
It was back in June when the company made its way into the retail health space, a move that saw the company strike a partnership with Walgreens Boots Alliance Inc (NASDAQ:WBA).
The goal of the two business gurus was to achieve immense success in terms of establishing a series of the patient services centers. The other acquisition by the company was the Chiltern IOnternational a deal that cost it about $1.2 billion.