Laboratory Corporation of America-Registered Trademark- Holdings
358 South Main Street
Burlington, NC 27215
Telephone: 336-584-5171
Contact: 336-436-4855 Pamela Sherry
Shareholder Direct: 800-LAB-0401
www.labcorp.com
LABCORP (-REGISTERED TRADEMARK-) FILES REGISTRATION STATEMENT TO
ENABLE ROCHE (-REGISTERED TRADEMARK-) TO SELL UP TO 5.0 MILLION
LABCORP (-REGISTERED TRADEMARK-) SHARES
Burlington, NC, September 27, 2000 - Laboratory Corporation of
America (-REGISTERED TRADEMARK-) Holdings (NYSE: LH) (LabCorp (-
REGISTERED TRADEMARK-)) announced today that Roche Holdings, Inc.
has indicated that it plans to sell up to 5.0 million shares of
LabCorp common stock.
Roche currently owns approximately 15,352,537, or 44.5 percent,
of LabCorp common shares. At September 26, 2000, assuming Roche
sells the full amount of the 5.0 million shares of common stock,
Roche's ownership of LabCorp common stock would be slightly above
30 percent.
LabCorp has filed a registration statement with the Securities
and Exchange Commission relating to this offer and sale by Roche
of LabCorp stock, but the registration statement has not yet
become effective. Such securities may not be sold nor may offers
to buy be accepted prior to the time the registration statement
becomes effective.
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 its 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, and National Genetics Institute in Los Angeles is an
industry leader in developing novel, highly sensitive PCR methods
for testing hepatitis C and other infectious agents. Its Center
for Occupational Testing in RTP is one of the world's largest
substance abuse testing facilities, 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.
FORWARD-LOOKING CAUTIONARY STATEMENT: This release contains
statements that constitute forward-looking information. Such
statements are subject to certain risks, uncertainties and
assumptions. All of these forward-looking statements are based
on estimates and assumptions made by LabCorp's management which,
although believed by LabCorp's management to be reasonable, are
inherently uncertain. Such forward-looking statements are not
guarantees of future performance or results and involve certain
risks and uncertainties. Actual results or developments may
differ materially from these forward-looking statements as a
result of various factors.
