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Labcorp has been criticized over faulty paternity tests, many of which have resulted in lawsuits. The most notable case was the 2005 false accusation of Washington hairdresser Andre Chreky, who spent $200,000 and years in court proving, despite a false-positive test, that he was not the father.
In June 2021, the company changed its name to Labcorp Drug Development. [55] In February 2023, the company was renamed Fortrea Holdings. [56] In July 2023, Labcorp completed the corporate spin-off of the company. [57] In June 2024, the company sold its Endpoint Clinical and Fortrea Patient Access businesses to Arsenal Capital Partners. [58]
Monogram Biosciences, Inc. (formerly ViroLogic Inc.) is an international biotechnology laboratory located in South San Francisco, California, USA and is a subsidiary of LabCorp. Monogram develops and markets assays to help guide and improve the treatment of infectious diseases (including HIV and Hepatitis) and cancer.
LabCorp's (LH) developments to support COVID-19 testing are believed to have contributed to the company's second-quarter earnings.
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