Decreased sales in the firm's centralized and point-of-care business and diabetes care business were partially offset by strong growth in the molecular diagnostics business.
The firm has expansive plans, including a possible launch of 40 different types of tests. It currently plans to launch a liver function test in the US this summer.
While a number of hospitals have sold their outreach operations in recent years, observers suggest these businesses are well-suited to the current environment.
DOJ alleges that Arriva offered free upgrades of medically unnecessary glucometers to Medicare beneficiaries, and then billed Medicare for the equipment.
Investigators calculated that the new assay, which includes 67 SNPs, could offer a 50 percent improvement over previous methods if used in newborn screening.
The company aims to launch the test, which it believes will improve monitoring and treatment of patients with diabetes, in China within the next two years.
The firm plans to seek full commercial approval for its assay, which integrates biomarker identification with a patient's electronic medical record, later this year.
LabCorp and TACHC will use data analytics and clinical decision support tools to improve the care of patients with chronic kidney disease and diabetes.
