Robert E.Mittelstaedt, Jr. to Retire from LabCorp Board of Directors and Current Board Member Adam H. Schechter to Assume Role of Lead Independent Director in 2019

LabCorp® (NYSE: LH) today announced that Robert E. Mittelstaedt, Jr.,
lead independent director, will retire from the LabCorp board of
directors at the conclusion of his current term on May 9, 2019, and that
director Adam H. Schechter has been elected to serve as lead independent
director effective January 2, 2019, so that he and Mittelstaedt may work
together on a smooth transition.

Mittelstaedt will retire from the board pursuant to the company’s
mandatory retirement policy which provides that when a director reaches
the age of 75 he or she is not eligible to stand for re-election at the
next regularly scheduled annual shareholder meeting. Mittelstaedt became
a director of LabCorp in 1996, chaired board executive sessions
beginning in 2006, and then served as the lead independent director
beginning in 2009. He has also served on various board committees,
including as chair of the Nominating and Corporate Governance Committee,
chair of the Compensation Committee and as a member of the Audit
Committee.

“Bob has been an exceptional board member and has made tremendous
contributions to LabCorp during his years of service,” said David P.
King, chairman and chief executive officer. “At the time he joined the
board, LabCorp faced a number of significant challenges. Bob’s steady
leadership and strategic thinking were instrumental in overcoming those
challenges and ultimately transforming the company. Bob has served with
distinction as a board member, a committee chair and as our lead
independent director. Bob has also been a trusted advisor to me and has
helped me become a better leader. On behalf of the board and LabCorp, as
well as from a personal perspective, I wish to express gratitude for his
invaluable leadership and years of dedicated service to the company.”

Schechter, executive vice president and president, Global Human Health,
Merck, was elected to LabCorp’s board of directors in 2013. He has
served on multiple committees, including Compensation (chair), Quality
and Compliance Committee (member) and Audit Committee (member).

“We are delighted that Adam, one of the most highly respected executives
in global healthcare, will succeed Bob as our lead independent
director,” said King. “Adam is an enormously talented executive with a
deep understanding of the U.S. and global healthcare environments, and
he has already brought great value to LabCorp in his five years on our
board. As lead independent director, he will continue to provide
invaluable leadership and strategic insights to LabCorp. Adam’s
extensive business and management experience at Merck includes
leadership roles across a broad range of commercial and strategic areas,
including sales, marketing, strategy, product development and business
development.”

Schechter joined Merck in 1988 as a sales representative and held a
number of professional, managerial and executive roles with the company
prior to his current role as president of Global Human Health, Merck’s
global pharmaceuticals and vaccines business. He has been a member of
Merck’s Executive Committee since 2007, and led the integration of Merck
and Schering-Plough in 2009 and 2010. Prior to becoming president,
Global Human Health, Schechter served as president, Global
Pharmaceutical Business, from 2007 to 2010, and before that he led
Merck’s U.S. pharmaceutical business. Schechter chairs the board of
Water.org, serves on the board of directors for the European Federation
of Pharmaceutical Industries and Associations, and is an executive board
member for the National Alliance for Hispanic Health. He is also a
member of Global 50, and has been a member of the National
Pharmaceutical Committee, the Healthcare Leadership Council, and the
Philadelphia CEO Chamber of Commerce Leadership Group.

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 over $10 billion
in 2017. 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 about
LabCorp’s future operations. 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. LabCorp 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 LabCorp’s Form 10-K for the year ended
December 31, 2017, and subsequent Forms 10-Q, including in each case
under the heading risk factors, and in LabCorp’s other filings with the
SEC. The information in this press release should be read in conjunction
with a review of LabCorp’s filings with the SEC including the
information in LabCorp’s Form 10-K for the year ended December 31, 2017,
and subsequent Forms 10-Q, under the heading MANAGEMENT’S DISCUSSION AND
ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

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