North Carolina-based leading medical laboratory tests and services provider Laboratory Corp. of America Holdings (LH) recently launched a new business segment titled Enlighten Health Genomics under its innovative healthcare engine – Enlighten Health. The new business is expected to boost the company's diagnostic potential involving Next-Generation Sequencing (NGS) technology.
However, the news failed to stir up investor confidence as LabCorp's share prices dropped 0.1% to eventually close at $107.98 on Friday.
Enlighten Health is the premier healthcare services division at LabCorp, which provides up-to-date clinical diagnostics and state-of-the-art healthcare technologies and services. These enable reduced healthcare expenses and enhanced patient outcomes through accurate well-informed treatment decisions.
Enlighten Health Genomics incorporates LabCorp's top-notch infrastructural facilities along with a competent team of talented geneticists. Modern clinical diagnostics, NGS analysis and interpretation, and sophisticated genetic counseling comprise the integral business services of this new business division.
Per management, the inauguration of Enlighten Health Genomics marks yet another milestone for LabCorp that takes forward its ultimate goal of improving patient care through innovation of new equipment and services.
Notably, patients suffering from serious genetic conditions require an elaborate interpretation of their genome. Currently, LabCorp aims at providing affordable diagnostic solutions to broad patient populations to encourage the inclusion of genomics in all routine clinical decisions.
In the latter part of 2014, Enlighten Health Genomics intends to launch ExomeReveal – a whole exome sequencing testing service. ExomeReveal is expected to provide genome-wide interpretation for children suffering from serious childhood genetic diseases as well as additional diagnostic information for patients of any age.
Currently, LabCorp has a Zacks Rank #3 (Hold). Better-ranked stocks in the broader medical sector include Alphatec Holdings, Inc. (ATEC), ERBA Diagnostics, Inc. (ERB) and RTI Surgical Inc. (RTIX). All these stocks sport a Zacks Rank #1 (Strong Buy).
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