May 24, 2021 Intelligence: Late-Breaking Lab News

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With little fanfare, the company that was incorporated as Laboratory Corporation of America Holdings rebranded itself. It is now officially called Labcorp (with a lower case c). This won’t be much of a change for the clinical laboratory profession, which has long seen the company use LabCorp (with an upper case C) in most marketing materials. Out goes the old logo:

Old-Labcorp-logo

In comes the new logo: 

New-Labcorp-logo

MORE ON: Labcorp Rebrand

The name and logo change happened at the end of last year and may be one change enacted by Labcorp’s new President and CEO, Adam H. Schechter, who assumed those duties in 2019 at the retirement of former President and CEO David King. Schechter also was named Labcorp’s Chairman of the Board in May, 2020. 

CUE HEALTH RAISES 235 MILLION FOR ITS POCT SYSTEM

On May 13, Cue Health of San Diego announced that it had raised $235 million in a private financing round. The company develops point-of-care tests and testing systems. In March, the Food and Drug Administration cleared Cue’s at-home molecular COVID-19 test kit for consumer use. It is a single-use test that comes with a nasal sample-collection wand and a battery-powered cartridge reader that connects to a smartphone app. Results are generated within 20 minutes. 

TRANSITIONS

Douglas M. VanOort retired as CEO of NeoGenomics Laboratories of Fort Myers, Fla., earlier this year, a role he assumed in 2010. He will continue to serve as Chairman of NeoGenomics’ Board of Directors. Previously, he held executive positions with Conundrum Capital Partners, Quest Diagnostics, and Corning Incorporated. 

NeoGenomics Laboratories announced that Mark Mallon is now its new CEO. Prior to joining NeoGenomics, Mallon served at Ironwood Pharmaceuticals, AstraZeneca, Accenture, and Armstrong World Industries.

Pathologist Lawrence Weiss, MD, is the new Chief Medical Officer for Fulgent Genetics, based in Temple City, Calif. Formerly, he worked at NeoGenomics, Clarient Diagnostic Services, and City of Hope Medical Center. 

IDbyDNA of Salt Lake City, Utah, appointed Neil Gunn as Chief Executive Officer. Gunn’s prior executive positions were with Roche Molecular Systems, CaridianBCT, Chiron, and Pall Corporation.

That’s all the insider intelligence for this report. Look for the next briefing on Monday, June 14, 2021.

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