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
SEPTEMBER 1, 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 September 1, 1999, Healtheon Corporation announced an
agreement with Laboratory Corporation of America-Registered
Trademark- Holdings to process lab requests and reports for
physicians with its Web browser-based solution, Healtheon-
Trademark-Dx. This agreement provides the more than 100,000
physicians, hospitals and other healthcare providers that
use LabCorp's clinical lab services the option of ordering
tests and receiving test results via the internet.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS
(c) Exhibit
20 Press release of the Company dated
September 1, 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: September 27, 1999
<PAGE>
For More Information Contact:
Laura Nicholson
Edelman Worldwide P.R.
415-433-5381
[email protected]
Pamela Sherry
Media and Investor Relations
Laboratory Corporation of America Holdings
336-222-7566 x4855
[email protected]
HEALTHEON TO PROVIDE E-COMMERCE SERVICES TO LABCORP
LABCORP TO USE HEALTHEON DX
FOR CLINICAL REPORTING AND ORDERING WITH PHYSICIANS
SANTA CLARA, Calif., BURLINGTON, North Carolina, September 1, 1999 -
Healtheon Corporation (NASDAQ: HLTH) today announced an agreement
with Laboratory Corporation of America-Registered Trademark-
Holdings (LabCorp-Registered Trademark-) (NYSE: LH), to process lab
requests and reports for physicians with its Web browser-based
solution, Healtheon-Trademark-Dx. This agreement provides the more
than 100,000 physicians, hospitals and other healthcare providers
that use LabCorp's clinical lab services the option of ordering
tests and receiving test results via the Internet.
As previously announced, Healtheon and WebMD agreed in May to merge
to form Healtheon/WebMD, the first end-to-end provider of
healthcare information and services.
Healtheon Dx streamlines the process of ordering and obtaining lab
tests via the Internet through a single, browser-based source. The
service is a key offering available through Healtheon-Trademark-
Practice, an Internet portal service that provides targeted content
and automated workflow services for healthcare providers. The
company currently processes lab transactions for more than 25,000
provider sites around the United States.
Under the new agreement, physicians and medical offices who
contract with LabCorp can use Healtheon Dx to select a lab test,
confirm patient eligibility for the test, submit the test request
electronically, and access the result online through any desktop
system capable of supporting a Web browser. LabCorp services will
be available to physicians via Healtheon Practice in the fourth
quarter of 1999.
<PAGE>
"This relationship will give healthcare providers, who use
Healtheon Practice, ready access over the Internet with LabCorp's
nationwide network of clinical laboratories," said Steve Curd,
chief operating officer of Healtheon. "LabCorp is an important
addition to the multiple services and rich content available to
physicians, practice administrators and other healthcare providers
from Healtheon Practice."
"The Healtheon partnership complements LabCorp's Internet strategy
of providing flexible and efficient electronic communications
options to our customers," said Stevan R Stark, executive vice
president of sales and marketing for LabCorp. "Healtheon Dx offers
convenience and security to the medical professionals we serve
while providing an option for customers who would like to use
Internet technology instead of traditional electronic ordering and
reporting methods," Stark added.
ABOUT HEALTHEON
Healtheon, founded in 1996 and based in Santa Clara, Calif., is a
pioneer in providing Internet-based, business-to-business and
consumer-to-business electronic commerce services that link doctors
and consumers with healthcare institutions, enabling them to
efficiently and conveniently manage their business and personal
healthcare needs. Healtheon's services simplify the business and
clinical processes of healthcare, provide more timely access to
information, provide faster and more convenient service, and lead
to higher quality, more affordable care. The company recently
announced definitive agreements to acquire MedE AMERICA Corp. and
merge with WebMD, Inc. Healtheon can be reached through its Web
site at http://www.healtheon.com.
ABOUT LABCORP
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.
<PAGE>
ABOUT WEBMD
WebMD offers a comprehensive suite of Internet-based services and
information for physicians as well as healthcare information
services and online communities for consumers, enabling healthcare
professionals to efficiently manage their business and consumers to
become equal partners in taking care of their personal healthcare
needs. WebMD can be reached through its Website at www.webmd.com.
WebMD physician subscriptions are available by calling (877) GO-
WEBMD or accessing the Web site at www.WebMD.com. Consumers can
also access the information and services they need to take control
of their health and lifestyles through a separate Web site at the
same address.
ABOUT MEDE AMERICA
Headquartered in East Meadow, NY, MEDE AMERICA is a leading
provider of healthcare transaction solutions to a broad range of
providers and payers in the healthcare industry. The company offers
an integrated suite of electronic transaction solutions that allows
hospitals, pharmacies, physicians, dentists and other healthcare
providers and provider groups to electronically edit, process and
transmit claims, eligibility and enrollment data, track claims
submissions throughout the claims payment process and obtain faster
reimbursement for their services. With offices in New York, Ohio
and Atlanta, MEDE AMERICA has 450 employees and can be reached
through its Web site at http://www.mede.com.
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Healtheon is a trademark of Healtheon Corporation. All rights
reserved.
Other than historical information set forth herein, this
announcement contains forward-looking statements that involve risks
and uncertainties, including those relating to the ability of
Healtheon's services to decrease costs and improve patient care.
Actual results could be materially different from those discussed
in this announcement. Factors that could cause actual results to
differ include among others: Healtheon's limited operating history,
continued growth in the use of the Internet, acceptance of the
Internet as a secure medium over which to conduct transactions, as
well as competitive actions in the marketplace and adverse actions
of governmental and other third-party payors which could impact
LabCorp's results. Additional risks associated with Healtheon's
business can be found in its recent Registration Statement on Form
S-4 and other periodic filings with the SEC. Further information
that could affect LabCorp's financial results is included in its
Form 10K for the year ended December 31, 1998.
