Privia Health appoints former Labcorp CTO to board of directors

ARLINGTON, Va. - Privia Health Group, Inc. (NASDAQ:PRVA) announced Tuesday the appointment of Lance V. Berberian to its Board of Directors, effective July 15, 2025. Berberian will also serve as a member of the Board’s Audit Committee, expanding the board to 10 directors.

Berberian brings over 30 years of technology experience to Privia Health. He previously served as Executive Vice President and Chief Information and Technology Officer at Labcorp Holdings Inc. (NYSE:LH) from 2014 to October 2024, where he led a team of 5,000 professionals focused on IT strategy, cybersecurity, artificial intelligence, product development, and data management. During his tenure, Labcorp has grown into a $21.6 billion market cap healthcare leader, with the stock delivering a 28.6% return over the past year. According to InvestingPro, Labcorp maintains a strong financial health rating and trades near its 52-week high of $265.72.

Prior to his decade-long tenure at Labcorp, Berberian held Chief Information Officer positions at several companies including IDEXX Laboratories, Kellstrom Aerospace, Interim HealthCare, and Quest Diagnostics.

"Lance brings extensive technology strategy and digital transformation experience to the Board, including IT governance, infrastructure management and cybersecurity," said David King, Chairman of the Board at Privia Health, in a press release statement.

Berberian currently serves on the Elon University Board of Trustees and previously chaired the North Carolina State Computer Science Strategic Advisory Board. He holds a bachelor’s degree in business administration and information technology from Thomas Edison State College.

Privia Health operates physician networks across 15 states and the District of Columbia, working with approximately 1,200 physician practices and over 4,800 physicians and advanced practitioners serving more than 5.2 million patients.

In other recent news, Labcorp Holdings Inc. reported its Q1 2025 earnings, showing a 5.3% increase in revenue to $3.3 billion, although this fell short of the forecasted $3.41 billion. The company achieved an adjusted earnings per share (EPS) of $3.84, slightly surpassing the expected $3.78. Morgan Stanley raised Labcorp’s stock price target to $283, citing sustained demand and projecting diagnostic revenue growth of 6.5-7.7% for 2025. Mizuho Securities also raised its price target to $274, maintaining an Outperform rating, reflecting confidence in Labcorp’s earnings visibility. Shareholders approved new incentive plans, including the 2025 Omnibus Incentive Plan and Employee Stock Purchase Plan, demonstrating support for Labcorp’s strategies. Additionally, Labcorp announced new product launches such as LabCorp Plasma Complete and genetic risk panel tests. The company is targeting $100-$125 million in cost savings through its Launchpad initiative, focusing on maintaining robust financial performance amidst a challenging macroeconomic environment.

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