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
MARCH 6, 2000
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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 March 6, 2000, Laboratory Corporation of America-
Registered Trademark- Holdings (LabCorp-Registered Trademark-)
announced that it has entered into a definitive agreement
with San Diego-based POISONLAB, Inc. to acquire all of the
stock of POISONLAB'S occupational substance abuse and
clinical toxicology testing business. Terms of the
definitive agreement were not disclosed.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS
(c) Exhibit
20 Press release of the Company dated
March 6, 2000.
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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: March 10, 2000
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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: 336-436-4855 Shareholder Direct: 800-LAB-0401
Pamela Sherry www.labcorp.com
LABORATORY CORPORATION OF AMERICA-REGISTERED TRADEMARK- ANNOUNCES
DEFINITIVE AGREEMENT TO ACQUIRE SAN DIEGO-BASED POISONLAB
-CONTINUES EXPANSION OF SPECIALTY TESTING SERVICES ON THE WEST COAST -
BURLINGTON, NC, MARCH 6, 2000 - Laboratory Corporation of
America-Registered Trademark- Holdings (LabCorp-Registered
Trademark-) (NYSE: LH) today announced that it has entered into
a definitive agreement with San Diego-based POISONLAB, Inc. to
acquire all of the stock of POISONLAB's occupational substance
abuse and clinical toxicology testing business. Terms of the
definitive agreement were not disclosed.
POISONLAB, Inc. is a premiere Substance Abuse and Mental Health
Services Administration (SAMHSA) certified reference toxicology
laboratory that provides forensic drug testing and clinical
therapeutic drug monitoring. Offering over 400 specialty tests,
the laboratory is a major drug testing facility on the West Coast
that can accommodate over 7500 specimens a day. Testing services
include forensic toxicology for pre-employment drug testing;
clinical toxicology and therapeutic drug monitoring; and
sensitive forensic hair testing for drug abuse. The acquisition
of POISONLAB expands LabCorp's specialty testing services in the
West, and will complement the capabilities of the company's
Center for Occupational Testing in North Carolina and additional
testing sites in New Jersey, Tennessee, Florida, and Texas.
"The incorporation of first-class testing facilities in the West
for occupational substance abuse testing is essential to
LabCorp's leadership position and growth strategy in this area,"
said Randall Simmons, senior vice president of LabCorp's
occupational testing business. "The new facility will allow us to
better service existing national accounts, and provide new growth
opportunities for contracts requiring national coverage. By
providing a local base of operation for specialty testing
services, we also anticipate cost savings to be realized from
increased testing volume, more efficient handling of specimens,
and faster turn around time."
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Laboratory Corporation of America-Registered Trademark- Holdings
(LabCorp-Registered Trademark-) is a national clinical laboratory
with annual revenues of $1.7 billion in 1999. 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 sophisticated molecular diagnostics. LabCorp leverages its
expertise in innovative clinical testing technology with 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 specialty testing in the network. LabCorp's
clients include physicians, state and federal government, managed
care organizations, hospitals, clinics, pharmaceutical and
Fortune 1000 companies, and other clinical laboratories.
