On March 23, 2021 Labcorp (NYSE: LH), a leading life sciences company, reported the following statement (Press release, LabCorp, MAR 23, 2021, View Source [SID1234577059]):

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

While we continue to see strong momentum across our operations, the Labcorp Board of Directors and management team believe that our value is not being appropriately reflected in the Company’s current stock price. Therefore, the Board of Directors is undertaking a review of the Company’s structure and capital allocation strategy to ensure we are best positioned to unlock shareholder value while we continue to support patients and customers around the world.

The Board will take the appropriate time to complete the review, and has engaged Goldman Sachs & Co. LLC as its financial advisor to support the process. Labcorp does not intend to comment further about this review until the Board has reached a conclusion.

Customers should continue to count on Labcorp to remain relentlessly focused on improving the health and lives of patients, including with the Company’s vital role in the fight against COVID-19.