![]() In 1992, the company reported revenues of over US$720 million, however with earnings of only US$40 million. In 1992, National Health Laboratories became the first of the companies to be prosecuted in the government operation. The charges were that the company and others routinely submitted false claims to the government health-care agencies Medicare and Medicaid for unnecessary tests which physicians had never ordered. Attorney's Office in San Diego, California. ![]() However, beginning in 1991 the company became embroiled in Operation " Labscam," a nationwide crackdown on fraud in the health-care system, initiated by the U.S. Its earnings peaked that year at almost US$90 million, and its stock price had risen from its low within the prior few years by several-fold. Up until that time the company had performed very well, including through the 1990-1991 recession. In 1991, National Health Laboratories moved from the NASDAQ OTC exchange to the New York Stock Exchange, where it began to trade under the new ticker symbol NH. That year, the company began paying a cash dividend to shareholders. In 1990, the company's revenues reached US$500 million, with over US$70 million in earnings. In 1989, the company generated revenue of about US$400 million, with about US$70 million in earnings. Through early 1995, the National Health Laboratories principal executive offices were located at 4225 Executive Square, Suite 805, in La Jolla, California. But in 1985, Revlon had been taken over by Ronald Perelman. Revlon had been a publicly traded company since the 1950s, as it was during most of its ownership of National Health Laboratories. Revlon retained 24% ownership of the common shares, for the next six years. In 1988, National Health Laboratories became publicly traded on the NASDAQ exchange. Lillig then left to found several health-care companies, including Syscor, Inc., Intelysis, Inc., Asterion, LLC and MetaCyte's 3DR in Louisville, Kentucky. he grew annual sales of the company each year by 43%, with revenue reaching $12 million by the end of his tenure. Lillig had earlier been with Becton, Dickinson and Company. The company was a national blood and pathology laboratory owned by the Revlon Health Care Group, and managed by Michael E. National Health Laboratories Incorporated began in 1978. Prior to the acquisition of PC-12 aircraft Labcorp utilized seven PA-31-350's. ![]() Labcorp ( ICAO: SKQ, Call sign: SKYLAB) utilizes a fleet of eight Pilatus PC-12 and a single Pilatus PC-24 aircraft on nightly runs from Burlington for use on the East Coast. ![]() ![]() In February 2022, Labcorp announced that it has entered into agreements with Ascension, one of the nation’s leading Catholic and non-profit health systems, to manage Ascension’s hospital-based laboratories in 10 states and purchase select assets of the health system’s outreach laboratory business. Labcorp also provides testing in Puerto Rico and in three Canadian provinces. Labcorp's ViroMed facility, originally in Minnetonka, Minnesota, until closing this site in 2013, is now housed in Burlington and performs real-time PCR microbial testing using laboratory-developed assays. (NGI), in Los Angeles, California, which develops PCR testing methods. Labcorp also operates the National Genetics Institute, Inc. It also does oncology testing, human immunodeficiency virus (HIV) genotyping and phenotyping. Labcorp was an early pioneer of genomic testing using polymerase chain reaction (PCR) technology, at its Center for Molecular Biology and Pathology in Research Triangle Park, North Carolina, where it also performs other molecular diagnostics. As of 2018, Labcorp processes 2.5 million lab tests weekly. Labcorp performs its largest volume of specialty testing at its Center for Esoteric Testing in Burlington, North Carolina, where the company is headquartered. Before a merger with National Health Laboratory in 1995, the company operated under the name Roche BioMedical. It operates one of the largest clinical laboratory networks in the world, with a United States network of 36 primary laboratories. Laboratory Corporation of America Holdings, more commonly known as Labcorp, is an American healthcare company headquartered in Burlington, North Carolina. ![]()
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