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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.
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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]
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Clinical laboratory in a hospital setting showing several automated analysers.. A medical laboratory or clinical laboratory is a laboratory where tests are conducted out on clinical specimens to obtain information about the health of a patient to aid in diagnosis, treatment, and prevention of disease. [1]
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[2] [3] In 2002 Dynacare Laboratories (one of the Dynacare partners) was acquired by LabCorp for $480-million (U.S.) while also assuming Dynacare debt worth $205-million. [4] In 2015, it rebranded itself back to Dynacare. [5] In 2011 Dynacare acquired the medical laboratory division of Warnex Inc. (TSX:WNX) for $7.5 Million. [6]