UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report: (Date of earliest event reported): January 20, 1997
Unilab Corporation ("Unilab")
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
33-77286 95-4415490
(Commission File Number) (I.R.S. Employer Identification Number)
18448 Oxnard Street, Tarzana, California 91356
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (818) 996-7300
______________________________________________________________
(Former name or former address, if changed since last report)
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Item 5. Other Events
Effective as of January 20, 1997, Andrew H. Baker resigned as Chairman,
President and Chief Executive Officer of Unilab Corporation, a Delaware
corporation (the "Company"), replaced in those positions by David C. Weavil.
A copy of the press release announcing these management changes is attached
as Exhibit 99.1.
The Company notes that each of the forward-looking statements contained
in the attached press release is subject to change based on numerous
important factors, including (without limitation) marketplace competition;
pricing pressures and adverse actions of governmental and other
third-party payors. Further information on potential factors that could
affect the Company's financial results is included in the Company's public
filings with the Securities and Exchange Commission, including the Annual
Report on Form 10-K for the year ended December 31, 1995.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits.
Exhibit
99.1 Press Release, dated January 20, 1997
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act 1934,
Unilab Corporation has duly caused this Report to be signed on its
behalf by the undersigned thereunto duly authorized.
Dated: January 20, 1997 UNILAB CORPORATION
By: /s/ Mark L. Bibi
Name: Mark L. Bibi
Title: Vice President, Secretary
and General Counsel
<PAGE>
INDEX OF EXHIBITS
Exhibits Page
Press Release dated January 20, 1997 99.1 6
PRESS RELEASE UNILAB CORPORATION
(AMEX:ULB)
18448 Oxnard Street
Tarzana, CA 91356
For Further Information:
Richard A. Michaelson
Phone: (818) 758-6607
IMMEDIATE RELEASE
January 20, 1997
UNILAB CORPORATION NAMES DAVID C. WEAVIL
CHAIRMAN AND CHIEF EXECTIVE OFFICER
TARZANA, CA, January 20, 1997 - The Board of Directors of UNILAB Corporation
(AMEX:ULB) announced today that it has appointed David Weavil as Chairman,
President and Chief Executive Officer, effective immediately. Mr. Weavil
succeeds Unilab Chairman and Chief Executive Officer, Andrew H. Baker.
Mr. Baker, who will remain a consultant to the Company, will become
Chief Executive Officer of Preferred Health Strategies, Inc., a Preferred
Provider Organization concentrating on the metropolitan New York area.
Mr. Weavil has spent the last 20 years in the clinical laboratory testing
business in a succession of increasingly senior finance and operating
positions. Prior to his new appointment as Unilab's Chief Executive
Officer, Mr. Weavil had been Chief Operating Officer of Laboratory
Corporation of America.
"Andrew Baker, who has for more than a decade been one of the distinguished
leaders in the laboratory industry, is now moving to new challenges in
a different segment in the health care field. As a founding officer of
Unilab, Andrew and his management team have built the Company into the
largest provider of laboratory testing services in California. We wish
him well in his new endeavor," stated Unilab Director Kirby Cramer.
Mr. Cramer added "David Weavil has a proven record in cost management and
keen attention to detail. His recognition that disciplined management of
account relationships is critical to a lab's success in today's evolving
health care environment is, we believe, one of David's key strengths."
"The challenges and opportunity facing the lab industry and Unilab are
clear," Mr. Weavil said, "and Unilab has begun many of the steps necessary
to improve the strength of its business. I look forward to joining this
exciting company that is a vital and valued part of the health care
delivery system."
A graduate of the University of North Carolina Chapel Hill, Mr. Weavil has
held his CPA Certification since 1974. He was in the audit group at Peat
Marwick until 1977, when he became the Chief Financial Officer at
Biomedical Reference Laboratories (BRL). Mr. Weavil continued as Chief
Financial Officer at Roche Biomedical Laboratories (RBL), a division of
Hoffman La Roche, upon its 1982 acquisition of BRL. In 1989 he assumed
the Chief Operating Officer role at RBL, a position he has held with
Laboratory Corporation of America (successor corporation upon the merger
of RBL and NHL) since the fall of 1995.
Unilab Corporation is the largest provider of clinical laboratory testing
services in California through its primary testing facilities in Los
Angeles, San Jose and Sacramento and over 200 regional service and
testing facilities located throughout the state.
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