A Revenue Rise for LabCorp

April 20, 2012

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Laboratory Corporation of America reported an increase in revenue of 4 percent, to $1.42 billion, for the first quarter of 2012, reports Dow Jones Newswires. LabCorp's testing volume increased by 2.8 percent in the first quarter. "Our core business continues to perform well, and we remain extremely pleased with the performance of the Genzyme Genetics and Orchid Cellmark acquisitions," says CEO David King in a statement. Dow Jones notes that LabCorp completed its $84 million acquisition of Orchid Cellmark in December, and that deal is "expected to strengthen LabCorp's domestic presence and provide a foothold in Britain." LabCorp acquired Genzyme in late 2010 for $925 million, our sister publication GenomeWeb Daily News adds.

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