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
NOVEMBER 18, 1999
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(Date of earliest event reported)
LABORATORY CORPORATION OF AMERICA HOLDINGS
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(Exact name of registrant as specified in its charter)
DELAWARE 1-11353 13-3757370
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number)
358 SOUTH MAIN STREET, BURLINGTON, NORTH CAROLINA 27215
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(Address of principal executive offices)
336-229-1127
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(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On November 18, 1999, Healthworks Alliance, Inc.
(Healthworks) and Laboratory Corporation of America-
Registered Trademark- Holdings (LabCorp-Registered Trademark-)
announced that LabCorp will utilize Healthworks'connectivity
tools to electronically receive orders from (and transmit
results to) LabCorp's joint venture hospital partners. The
modified agreement provides for the use of Healthworks' software
to communicate lab orders and results between physician offices
using Medic Computer Systems' software and LabCorp's regional
testing facilities.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS
(c) Exhibit
20 Press release of the Company dated
November 18, 1999.
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange
Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly
authorized.
LABORATORY CORPORATION OF AMERICA HOLDINGS
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(Registrant)
By:/s/ BRADFORD T. SMITH
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Bradford T. Smith
Executive Vice President,
General Counsel, Secretary
and Compliance Officer
Date: December 1, 1999
<PAGE>
Healthworks Alliance, Inc. Laboratory Corporation of America
1018 West 8th Avenue 358 South Main Street
King of Prussia, PA 19406 Burlington, NC 27215
Contact: Jack Darnell Contact: Pamela Sherry
Vice President, Business Development Vice President, Investor Relations
Phone: 800.335.8346 extension 111 Phone: 336.584.5171 extension 4855
Fax: 610.354.8802 Fax: 336.513.4806
email: [email protected] email: [email protected]
KING OF PRUSSIA, Pennsylvania, BURLINGTON, North Carolina,
November 18, 1999: Healthworks Alliance, Inc. (Healthworks) and
Laboratory Corporation of America-Registered Trademark- Holdings
(LabCorp-Registered Trademark-) (NYSE: LH) today announced that
LabCorp will utilize Healthworks' connectivity tools to electronically
receive orders from (and transmit results to) LabCorp's joint venture
hospital partners. The modified agreement provides for the use of
Healthworks' software to communicate lab orders and results between
physician offices using Medic Computer Systems' (Medic) software and
LabCorp's regional testing facilities.
Under the expanded agreement, Healthworks will develop and deploy
interfaces between LabCorp's regional testing facilities and their
hospital partners' laboratory information systems. In addition, in
support of an existing agreement between Healthworks and Medic,
LabCorp's local sales teams will be working to increase the number of
Medic sites that communicate lab orders electronically to LabCorp.
Commenting on the expansion, Stevan R. Stark, LabCorp's executive
vice president of sales and marketing said: "Expanding this agreement
enables LabCorp to utilize Healthworks' proven services in
establishing electronic connections with our joint venture partners.
Healthworks' standard connection with Medic will streamline our
ability to connect these sites more efficiently. By automating the
receipt of requisitions and transmission of results, LabCorp expects
to reduce its operating costs while providing enhanced services to
both our hospital and physician office clients, and ultimately to the
patients they serve."
According to Adolf A. Paier, Healthworks' president and chairman:
"Our relationship with LabCorp has been very positive since we signed
the original agreement in 1996. The expansion of this agreement
represents Healthworks' continuing commitment to meet the realities
<PAGE>
of the new market dynamics where commercial labs are focusing on
electronic connectivity as a means of reducing on-going transaction
costs. With Healthworks' ability to electronically link a large
number of Medic sites as well as LabCorp's hospital clients, LabCorp
should realize cost savings, improve service and minimize the impact
on their development resources."
Healthworks Alliance, Inc. develops and markets application
software used by healthcare facilities for medical necessity
compliance validation, by ambulatory centers for automated order
entry and results reporting to local and national laboratories, and
by laboratory networks and commercial labs to facilitate electronic
orders and results. For more information, visit the Healthworks
Alliance web site at http://www.hworks.com or contact Healthworks at
(800) 335-8346.
Laboratory Corporation of America-Registered Trademark- Holdings
(LabCorp-Registered Trademark-) is a national clinical laboratory with
annual revenues of $1.6 billion in 1998. With 18,000 employees and over
100,000 clients nationwide, the company offers more than 2,000 clinical
tests, ranging from simple blood analyses to more sophisticated
technologies. Included in LabCorp's network of 25 major laboratories
are three Centers of Excellence. The Center for Molecular Biology
and Pathology, in Research Triangle Park (RTP), North Carolina, develops
applications for polymerase chain reaction (PCR) technology. Its
Center for Occupational Testing in RTP is the world's largest substance
abuse testing facility, and the Center for Esoteric Testing in Burlington,
North Carolina, performs the largest volume of rare analyses in the
network. LabCorp's clients include physicians, state and federal
governments, managed care organizations, hospitals, clinics,
pharmaceutical and Fortune 1000 companies, and other clinical
laboratories. Visit LabCorp's web site at http://www.labcorp.com.
Raleigh, NC-based Medic Computer Systems, Inc., a member of the
Misys Group of Companies, is the leading provider of healthcare
information systems to integrated delivery networks, management
service organizations, managed care organizations, hospitals,
physician practices, and home healthcare agencies. Medic's products
are designed to manage financial, administrative, clinical and
managed care information. Visit Medic's Web page at www.medcmp.com
or contact Medic at 1-800-334-8534 ext.1757 for additional
information.
The companies noted that each of the above forward-looking
statements was 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 payors.
Further information on potential factors that could affect LabCorp's
financial results is included in LabCorp's Form 10-K for the year
ended December 31, 1998 and subsequent filings.
