Clinical laboratory testing company Laboratory Corporation of America Holdings, more commonly known as LabCorp, hired Dr. Brian Caveney for the newly created role of company-wide chief medical officer.
Caveney is currently the chief medical officer for Blue Cross Blue Shield of North Carolina, the state’s largest health insurer. He will begin his new position at LabCorp on Sept. 25.
In his new role at the Burlington, North Carolina-based company, Caveney will oversee the company’s medical and scientific strategy and serve as the company’s external medical representative.
“Brian is a nationally respected thought leader who brings deep expertise to LabCorp on critical topics, including health policy, health care financing, regulatory initiatives, value-based care models, and clinical standards of care,” said LabCorp CEO David P. King in a statement Thursday.
After joining Blue Cross Blue Shield in 2011, Caveney was the chief clinical officer of Mosaic Health Solutions, a wholly owned subsidiary of BCBS.
Prior to that, Caveney was a practicing physician and assistant professor at Duke University Medical Center. He also holds an active law license in North Carolina.
LabCorp is a network of clinical laboratories, with 36 primary laboratories in the U.S.
On Wednesday, it was announced that LabCorp has agreed to purchase Irvine, California-based ChromaDex Corp., an analytical testing company, for $7.5 million. ChromaDex is able to receive an additional $1 million earnout payment.
ChromaDex’s testing services will now be operated under LabCorp’s Covance Food Solutions business. LabCorp purchased Covance, a contract research organization, in 2015 for $6.1 billion.
LabCorp shares rose 81 cents to $154.44 on Thursday.