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
May 4, 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 May 4, 2000, Laboratory Corporation of America-
Registered Trademark-Holdings (LabCorp-Registered Trademark-)
announced that it entered into a definitive agreement with San
Diego-based Pathology Medical Laboratories (PML) to acquire
PML's laboratory testing business. The transaction is scheduled
to be finalized on or about June 1, 2000, and is contingent on
the satisfaction of certain conditions. 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
May 4, 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: May 19, 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
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 PATHOLOGY MEDICAL
LABORATORIES
Third California Acquisition This Year Continues LabCorp's West
Coast Expansion
Burlington, NC, May 4, 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 Pathology Medical
Laboratories (PML) to acquire PML's laboratory testing business.
The transaction is scheduled to be finalized on or about June 1,
2000, and is contingent on the satisfaction of certain
conditions. Terms of the definitive agreement were not
disclosed.
"The combination of LabCorp and PML will further strengthen our
laboratory services in Southern California with additional
testing and patient service sites," said Richard L. Novak,
executive vice president and chief operating officer of LabCorp.
"Our recent acquisitions in this key region continue to improve
capacity utilization as we move to broadly offer the latest
testing and information technologies available today."
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
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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.
Each of the above forward-looking statements is 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 LabCorp's financial
results is included in the Company's Form 10-K for the year ended
December 31, 1999 and subsequent SEC filings.
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