Labcorp

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Transcript: How the covid battle ignited innovation

Adam Schechter
CEO
Labcorp

It's been remarkable what the Labcorp team has been able to accomplish throughout the pandemic.

We've performed more than 50 million COVID tests. And at the same time, we've been involved in more than 800 studies to try to help the world through the worst pandemic in a hundred years.

We did everything that we possibly could in terms of innovation, technology, and using all of our capabilities to build as much capacity as we could, as fast as we possibly could.

We use robotics to do things to enable us to return test results faster than we otherwise could have. We use technology to ensure that our patients were safe when they visited our service centers. And we used innovation in everything that we did.

When we were helping pharmaceutical companies with their clinical trials for vaccines, we used our diagnostic laboratories in addition to our drug development laboratories to help those pharmaceutical companies get the vaccines out as quickly as possible.

Wells Fargo has been a great colleague, working with us for more than a quarter of a century.

Jaison Ellis
Director
Wells Fargo Corporate & Investment Banking

Wells Fargo was an advisor on Labcorp's $6 billion acquisition – the largest acquisition that Labcorp has done to date.

Over the last decade, we've helped the company raise over $15 billion in capital.

Tim Gannon
Managing Director
Wells Fargo Corporate & Investment Banking

In addition to all the advisory and financing work we've done, we're their primary treasury management bank and we provide risk management solutions.

The work that we've done together has clearly positioned Labcorp to be at the forefront of helping to develop vaccines and diagnostics to combat this pandemic.

Back to Adam

Now that we've seen how fast we can innovate through Covid, we're applying those learnings to other areas like oncology and Alzheimer's disease.

By bringing diagnostics together with drug development, we can make a significant impact on people's lives around the world.