Labcorp Says Undertaking Review Of Structure And Capital Allocation Strategy

(RTTNews) - Labcorp (LH) said that it continues to see strong momentum across its operations. But it believe that its value is not being appropriately reflected in the company's current stock price. Therefore, its board is undertaking a review of the company's structure and capital allocation strategy.

The company said it has engaged Goldman Sachs & Co. LLC as its financial advisor to support the process. The company does not intend to comment further about this review until the Board has reached a conclusion.

Labcorp noted that it continues to make progress executing its strategy and capitalizing on the power of its diagnostic and drug development businesses. It is successfully accelerating growth across its platform, while playing a critical role in the fight against COVID-19 and helping clients develop next-generation solutions for other key therapeutic areas such as oncology, liver and kidney disease, Alzheimer's and autoimmune disorders.