LabCorp Completes Acquisition of Assets of Mount Sinai Health System Clinical Outreach Laboratories

BURLINGTON, N.C.–(BUSINESS WIRE)– LabCorp^® (NYSE: LH), a leading global life sciences company,
has completed the previously announced acquisition of assets of the
Mount Sinai Health System Clinical Outreach Laboratories. LabCorp is now
available to provide comprehensive laboratory services to physicians and
patients that previously used Mount Sinai’s outreach laboratory.

“This transaction demonstrates LabCorp’s commitment to strategic health
system partnerships with anchor health systems,” said David P. King,
chairman and chief executive officer of LabCorp. “Our differentiated
solutions offer a range of services not available from any other
company, and we continue to explore opportunities to further collaborate
with Mount Sinai on projects involving companion diagnostics, clinical
trials through Covance Drug Development and the increased use of
analytics to enhance effective delivery of patient care.”

LabCorp operates over 140 patient service centers in metropolitan New
York City, including several formerly operated by Mount Sinai, providing
convenient access to physicians and patients. Mount Sinai will continue
to provide laboratory testing for patients registered at its hospitals
and ambulatory facilities as inpatients or outpatients, as well as
laboratory testing services for physicians in their professional
practices in the areas of anatomic pathology, molecular pathology and
genetics.

About LabCorp

LabCorp (NYSE: LH), an S&P 500 company, is a leading global life
sciences company that is deeply integrated in guiding patient care,
providing comprehensive clinical laboratory and end-to-end drug
development services. With a mission to improve health and improve
lives, LabCorp delivers world-class diagnostic solutions, brings
innovative medicines to patients faster and uses technology to improve
the delivery of care. LabCorp reported net revenues of nearly $9.5
billion for 2016 through the contributions of 52,000 employees in
approximately 60 countries. To learn more about LabCorp, visit www.labcorp.com,
and to learn more about Covance Drug Development, visit www.covance.com.

Forward-Looking Statements

This press release contains forward-looking statements including with
respect to estimated 2017 guidance and the impact of various factors on
operating and financial results. Each of the forward-looking statements
is subject to change based on various important factors, including
without limitation, competitive actions in the marketplace, and adverse
actions of governmental and other third-party payers. Actual
results could differ materially from those suggested by these
forward-looking statements. The Company has no obligation to provide any
updates to these forward-looking statements even if its expectations
change. Further information on potential factors that could affect
operating and financial results is included in the Company’s Form 10-K
for the year ended December 31, 2016, and subsequent Forms 10-Q,
including in each case under the heading risk factors, and in the
Company’s other filings with the SEC. The information in this press
release should be read in conjunction with a review of the Company’s
filings with the SEC including the information in the Company’s Form
10-K for the year ended December 31, 2016, and subsequent Forms 10-Q,
under the heading MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS.

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