Lab Works

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.

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

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

• Toxicology testing services
• PCR testing services
• Molecular diagnostics testing
• Clinical laboratory diagnostics
• Specialty reference lab testing

Headquarters

HQ city

Burlington

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Supply Chain

Revenue model

1. 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.
2. 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.
3. Drug Development and Nonclinical Research: Nonclinical development services including toxicology, safety pharmacology, and bioanalysis supporting pharmaceutical development from early phase through commercialization.
4. 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.
5. 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

Go-to-market motion3 records

Distribution channels7 records

Marketing channels7 records

Core 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

Named customers3 records

Segments5 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability5 records

Feature5 records

Partnerships

Three partnerships are on record, tiered core.

• Amazon Web Services (AWS)coreTechnology or IntegrationAWS 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.
• DatavantcoreTechnology or IntegrationDatavant 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.
• InvitaecoreStrategic or Co-development PartnerLabcorp 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

Broad 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

• Xx.com/Labcorp
• YouTubeyoutube.com/c/labcorpvideo
• Facebookfacebook.com/labworksbham
• LinkedInlinkedin.com/company/lab-works-birmingham
• Instagraminstagram.com/labcorp/?hl=en

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lab Works