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
DECEMBER 16, 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)
<PAGE>
ITEM 5. OTHER EVENTS
On December 16, 1999, Laboratory Corporation of America-Registered Trademark-
Holdings announced today that it has been awarded a contract by the
Commonwealth of Virginia Department of Mental Health, Mental Retardation and
Substance Abuse Services to perform clinical laboratory testing services.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS
(c) Exhibit
20 Press release of the Company dated
December 16, 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
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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 22, 1999
<PAGE>
Laboratory Corporation of America-Registered Trademark- Holdings
358 South Main Street
Burlington, NC 27215
Telephone: 336-584-5171
FOR IMMEDIATE RELEASE
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Contact: 336-584-5171 Shareholder Direct: 800-LAB-0401
Pamela Sherry, Ext. 4855 www.labcorp.com
LabCorp-Registered Trademark- Captures Virginia's Public Health Care
Contract Laboratory Testing
Burlington, NC, December 16, 1999 - Laboratory Corporation of America-
Registered Trademark-Holdings (LabCorp-Registered Trademark-) (NYSE: LH)
announced today that it has been awarded a contract by the Commonwealth of
Virginia Department of Mental Health, Mental Retardation and Substance Abuse
Services to perform clinical laboratory testing services. Terms of the
multi-year contract were not disclosed.
"With a significant presence in the Virginia area, LabCorp is unique
in its ability to respond to the state's growing need for clinical
laboratory testing services," said Richard L. Novak, executive vice president
and chief operating officer at LabCorp. "Testing services are available to
public entities throughout Virginia who serve the behavioral and medical
health care needs of consumers who are eligible for publicly funded services.
" This cooperative procurement, by taking advantage of volume economies,
has enabled Virginia public entities with low service volume to receive
favorable pricing for laboratory services.
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.
The Company 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 the Company's financial results is
included in the Company's Form 10-K for the year ended December 31, 1998
and subsequent SEC filings.
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