LABORATORY CORP OF AMERICA HOLDINGS
8-K, 1999-08-31
MEDICAL LABORATORIES
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      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

                       August 18, 1999
                       ---------------
              (Date of earliest event reported)


         LABORATORY CORPORATION OF AMERICA HOLDINGS
         ------------------------------------------
   (Exact name of registrant as specified in its charter)


   DELAWARE              1-11353             13-3757370
   --------              -------             ----------
(State or other         (Commission         (IRS Employer
jurisdiction of         File Number)         Identification
incorporation)                               Number)


   358 SOUTH MAIN STREET, BURLINGTON, NORTH CAROLINA 27215
   -------------------------------------------------------
          (Address of principal executive offices)

                        336-229-1127
                        ------------
    (Registrant's telephone number, including area code)


<PAGE>

ITEM 5. OTHER EVENTS

On August 18, 1999, the Company issued a press release
announcing that its Board of Directors has declared
dividends on the Company's 8 1/2% Series A Convertible
Exchangeable Preferred Stock and the Company's 8 1/2% Series
B Convertible Pay-in-Kind Preferred Stock.


ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
        INFORMATION AND EXHIBITS

 (c)  Exhibit
      20  Press release of the Company dated
          August 18, 1999.

<PAGE>

                         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
          ------------------------------------------
                         (Registrant)

               By: /s/BRADFORD T. SMITH
                  ------------------------------
                      Bradford T. Smith
                      Executive Vice President,
                      General Counsel, Secretary
                      and Compliance Officer



Date: August 31, 1999

<PAGE>


2


Laboratory Corporation of America-Registered Trademark-Holdings
358 South Main Street
Burlington, NC   27215

FOR IMMEDIATE RELEASE
- ---------------------
Contact:  336-584-5171                  Shareholder Direct: 800-LAB-0401
          Media - Cynthia Jay, Ext. 5052                    www.labcorp.com
          Investors - Pamela Sherry, Ext. 4855

             LABORATORY CORPORATION OF AMERICA-REGISTERED TRADEMARK- DECLARES
                              PREFERRED STOCK DIVIDENDS

Burlington, NC, August 18, 1999 - Laboratory Corporation of America-Registered
Trademark-Holdings (LabCorp-Registered Trademark-) (NYSE: LH) today announced
that its Board of Directors has declared a dividend of $1.0625 per share on the
Company's 8 1/2 percent Series A Convertible Exchangeable Preferred
Stock (Series A Preferred Stock), payable in cash.  The Board has
also declared a dividend of $1.0625 per share on the Company's 8 1/2
percent Series B Convertible Pay-in-Kind Preferred Stock (Series B
Preferred Stock), payable in shares of Series B Preferred Stock at
the rate of 0.02125 shares per share of Series B Preferred Stock
held.  No fractional shares of Series B Preferred Stock will be
issued, so that the number of shares to be paid as a dividend on the
Series B Preferred Stock will be rounded to the nearest whole number
of shares.  The dividends will be payable on September 30, 1999, for
each issued and outstanding share of Series A and B Preferred Stock
to stockholders of record on September 17, 1999, and will cover the
dividend period from July 1, 1999, to September 30, 1999, at an
equivalent annualized rate of $4.25 per share.

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, long-
term care facilities, companies, and other clinical laboratories.
                                 ###
_______________________________




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