Lab Works
Labcorp is a publicly traded clinical laboratory and drug development company providing diagnostic testing, central lab services for biopharma clinical trials, nonclinical research, and AI-powered data platforms to patients, providers, health systems, and pharmaceutical companies.
- Company typePublic
- Founded-
- HeadquartersBurlington, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Lab Works does
Labcorp is a publicly traded clinical laboratory and drug development services company operating a dual-platform model that spans routine patient diagnostics and biopharmaceutical research support. The company serves four primary customer segments: individual patients (via walk-in patient service centers, the Labcorp OnDemand e-commerce platform offering 50+ self-ordered tests, and the MyLabcorp mobile app), healthcare providers (via provider portals, EHR-integrated tools such as the AI-Enhanced Test Finder, Labcorp Diagnostic Assistant, and Labcorp Link), health systems and managed care organizations (via reference testing, outreach, and payor contracts), and biopharmaceutical companies (via Central Laboratory Services for clinical trials, Nonclinical Development including toxicology and safety pharmacology, and an AI-Powered Real-World Data Platform). Revenue is generated through a mix of per-test transaction fees for clinical diagnostics, multi-year recurring contracts for biopharma central lab services, professional services fees for nonclinical research, subscription/recurring revenue for real-world data products, and unit-priced pay-as-you-go transactions for consumer-direct testing through Labcorp OnDemand. Underlying technology includes AI capabilities for natural language test search, generative-AI patient result explanation, predictive analytics on longitudinal lab data, and digital pathology with AI. The company is organized as a corporation headquartered in the United States, listed on NYSE under ticker LH, with global clinical trial capabilities and a domestic U.S. footprint positioned within miles of 95% of the U.S. population.
The company's scale signals include 1,200+ PhDs and MDs on staff, support for over 85% of new FDA-approved drugs and therapeutic products through its biopharma central lab services, and a diversified product portfolio spanning oncology, neurology, rheumatology, genetics (post-Invitae acquisition), precision medicine, cell and gene therapies, radiopharmaceuticals, and vaccines. The GTM motion combines enterprise field sales for biopharma and health systems, self-serve / product-led growth through Labcorp OnDemand, and API-style digital health platform distribution via EHR-embedded tools. Pricing is not publicly disclosed; enterprise contracts are volume- and scope-based while consumer testing uses unit pricing.
Note on company naming: The input's firmographic block labels the subject as "Lab Works," but the substantive product, technology, partnership, and corporate data (NYSE ticker LH, labcorp.com, 1,200+ PhDs/MDs, 85% FDA drug support, Invitae acquisition) all reference Labcorp. This analysis treats the subject as Labcorp given the depth and specificity of the underlying operational data.
Lab Works firmographics
Firmographics- Name
- Lab Works
- Legal name
- Labcorp
- Website
- https://ourlabworks.com
- Company type
- Public
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Labcorp is a publicly traded clinical laboratory and drug development company providing diagnostic testing, central lab services for biopharma clinical trials, nonclinical research, and AI-powered data platforms to patients, providers, health systems, and pharmaceutical companies.
- Ownership category
- akta.pro rank
Lab Works industry classification
Industry- Product category
- Clinical Laboratory Services
- NAICS
- Medical Laboratories (621511), Medical and Diagnostic Laboratories (62151), Testing Laboratories and Services (541380)
- SIC
- Services-Medical Laboratories (8071), Services-Commercial Physical & Biological Research (8731)
- akta.pro primary industry
- Central Laboratory Services (Core Lab Operations) (HLAGAEAA)
- akta.pro secondary industries
- Clinical Research & Trial Central Laboratories (HLAFAMAL), Occupational Health & Employer Testing Laboratories (HLAFAMAK), Lab Analytics, Utilization Management & Operational Intelligence (HLACAMAK)
Keywords
Where Lab Works is headquartered
LocationHeadquarters
- HQ city
- Burlington
- HQ country
- United States
- HQ region
- North America
Markets served
Lab Works business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Supply Chain
Revenue model
- Laboratory Diagnostic Testing Services: Core laboratory testing services provided to patients, providers, and health systems including clinical chemistry, hematology, microbiology, immunology, and specialized testing across therapeutic areas.
- Central Laboratory Services for Biopharma: Global central lab services supporting clinical trials including sample management, custom assay development, and integrated laboratory solutions for drug development.
- Drug Development and Nonclinical Research: Nonclinical development services including toxicology, safety pharmacology, and bioanalysis supporting pharmaceutical development from early phase through commercialization.
- Consumer/Patient Direct Testing: Direct-to-consumer testing through Labcorp OnDemand platform offering self-ordered lab tests including at-home kits, COVID-19 tests, and specialized health panels.
- Real-World Data Solutions: AI-powered real-world data platform providing longitudinal laboratory data and advanced analytics to biopharma for drug discovery and development acceleration.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Enterprise/Contract pricing for healthcare providers and health systems |
| Other | Multi-year contract | Biopharma clinical trial services |
| Unit Pricing | Pay-as-you-go | Consumer direct-to-consumer testing (Labcorp OnDemand) |
Go-to-market motion3 records
Distribution channels7 records
Marketing channels7 records
Lab Works product offering
Product offeringCore offering
Lab Works is a privately held clinical laboratory offering toxicology testing, PCR testing, and molecular testing services. The laboratory is located in Burlington, United States, and operates with a staff of 51-100 employees to deliver diagnostic testing primarily to healthcare providers and clinical referrers in its regional market.
Product overview
Lab Works operates as a comprehensive life sciences and diagnostics company offering a unified platform of laboratory testing, drug development, and healthcare technology solutions. The portfolio centers on core diagnostic services (Labcorp OnDemand for consumer self-testing, clinical drug testing, genetics) combined with enterprise offerings for biopharma (Central Laboratory Services, Nonclinical Development, Cell & Gene Therapies) and health systems (Employee Wellness & Testing). Key technology products include AI-powered tools—MyLabcorp mobile app for patient result explanation, Test Finder with conversational AI for clinicians, and an AI-powered Real-World Data Platform for drug discovery—augmented by the recent Invitae genetic testing acquisition. The company leverages its global lab footprint and 1,200+ PhDs/MDs to support over 85% of new FDA-approved drugs.
Differentiator
Problem solved
Functional benefit
Brands
- MyLabcorp: AI-powered mobile app that helps explain test results, tracks health trends, manages appointments and billing
- Labcorp OnDemand
- Labcorp Diagnostic Assistant
- Labcorp Link
Products and services
- Toxicology Testing Toxicology screening and confirmation testing services for clinical and medical purposes, provided to healthcare providers who order these tests on behalf of patients.
- PCR Testing Polymerase Chain Reaction (PCR)-based diagnostic testing services for clinical applications, offered to healthcare providers and clinical referrers.
- Molecular Testing Molecular diagnostic testing services beyond PCR, including molecular assays used in clinical decision-making, offered to healthcare providers and clinical referrers.
Quantifiable outcome
- Over 85% of new drugs and therapeutic products approved by U.S. FDA supported by Labcorp
- +2 more outcomes
Companies that use Lab Works
Customer profileNamed customers3 records
Segments5 records
Ideal customer profiles1 record
Lab Works technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability5 records
Feature5 records
Lab Works partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- Amazon Web Services (AWS)coreAWS serves as the cloud infrastructure partner for Labcorp's AI-powered real-world data platform for Alzheimer's disease, developed in collaboration with Datavant. The platform delivers longitudinal laboratory data at scale with advanced analytics to accelerate drug discovery and improve patient outcomes.
- DatavantcoreDatavant partnered with Labcorp to develop an AI-powered real-world data platform for Alzheimer's disease, enabling longitudinal laboratory data at scale with advanced analytics for drug discovery, development acceleration, and improved patient outcomes.
- InvitaecoreLabcorp acquired Invitae, welcoming the team of scientific leaders and pioneers in the development and adoption of genetic testing. This acquisition strengthens Labcorp's genetic testing capabilities and extends its leadership in precision medicine.
Scale indicators4 records
Lab Works competitors and assessment
Company assessmentBroad incumbents
- IQVIA: IQVIA is the largest CRO with a sizable real-world evidence and laboratory services arm. It overlaps with the company on real-world data analytics, biopharma trial support and increasingly on precision-medicine and companion-diagnostic offerings.
- ICON plc: ICON is a global CRO that, following the PRA Health Sciences merger, competes in central laboratory services, bioanalytical work and clinical trial support directly against Labcorp's Biopharma central lab offering.
- Sonic Healthcare: Sonic Healthcare is a global medical diagnostics provider combining clinical laboratory services with radiology and hospital services. It overlaps with the company's clinical diagnostics and pathology footprint and is a leading consolidator in fragmented European and Australian markets.
- Medpace Holdings: Medpace is a mid-sized CRO focused on small and mid-sized biotechs, with in-house central laboratory and imaging capabilities. It targets the same clinical-trial services buyer (sponsors) for the kinds of studies Labcorp runs in its central lab.
- Charles River Laboratories: Charles River competes directly with the company's nonclinical drug development services (toxicology, safety pharmacology, bioanalytics). Both serve pharma/biotech with preclinical and research models, and they also overlap in the cell & gene therapy testing services category.
- Eurofins Scientific: Eurofins is a broad life-sciences testing services group spanning clinical diagnostics, pharma, food, environmental and cosmetics testing. It competes with Labcorp in central/biopharma lab services, nonclinical/preclinical testing and increasingly in molecular diagnostics.
Others
- Bio-Techne: Bio-Techne supplies life-science research reagents, proteins and assay platforms used extensively in biopharma research and development. It serves many of the same biopharma R&D customers as Labcorp's drug development services, including for cell & gene therapy work.
Emerging players
- Natera: Natera specializes in cell-free DNA testing across oncology, women's health (reproductive testing) and organ health. It overlaps with the company's newly-acquired Invitae platform in hereditary and reproductive genetic testing.
- NeoGenomics: NeoGenomics is a specialty oncology-focused laboratory offering comprehensive cancer testing, including molecular and next-generation sequencing services. It represents a focused overlapping player in the oncology and pathology segments where Labcorp's Digital Pathology & AI competes.
Direct peers
- Quest Diagnostics: Quest Diagnostics is the most directly comparable U.S. clinical laboratory operator, offering routine and esoteric testing for patients, providers, health systems and employers through a similarly large patient service center network. It competes head-to-head on hospital reference testing, employer wellness, and DTC channels.
Market position
Strengths5 records
Weaknesses5 records
Key risks6 records
Key highlights7 records
Customer concentration
Lab Works social profiles
Digital presenceLab Works financial estimates
Financial estimateRevenue estimate
Valuation estimate
Lab Works leadership team
Management profileNumber of profiles
Profiles1 record
Lab Works subsidiaries and ownership
Company hierarchySubsidiaries1 record
Lab Works funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Lab Works M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Lab Works
What does Lab Works do?
Lab Works is a privately held clinical laboratory offering toxicology testing, PCR testing, and molecular testing services. The laboratory is located in Burlington, United States, and operates with a staff of 51-100 employees to deliver diagnostic testing primarily to healthcare providers and clinical referrers in its regional market.
Is Lab Works a public or private company?
Lab Works is a public company. It is classified as unknown and is currently operating.
When was Lab Works founded?
Lab Works was founded in -1. It employs 51 to 100 people.
Where is Lab Works based?
Lab Works is headquartered in Burlington, United States, in the North America region.
How does Lab Works make money?
Five revenue lines are on record. Laboratory Diagnostic Testing Services are the primary driver. The others are central Laboratory Services for Biopharma, drug Development and Nonclinical Research, consumer/Patient Direct Testing and real-World Data Solutions.
Who are Lab Works's main competitors?
Broad incumbents on record are IQVIA, ICON plc, Sonic Healthcare, Medpace Holdings, Charles River Laboratories and Eurofins Scientific. Bio-Techne is listed as an others. Emerging players are Natera and NeoGenomics. Quest Diagnostics is listed as a direct peer.
Does Lab Works have an API?
No public API is recorded for Lab Works.
What industry is Lab Works in?
Lab Works's product category is Clinical Laboratory Services. Its primary akta.pro industry code is HLAGAEAA, Central Laboratory Services (Core Lab Operations), with a secondary code of HLAFAMAL, Clinical Research & Trial Central Laboratories. Its NAICS code is 621511 and its SIC code is 8071.