LABCORP SELECTED BY FOUNDATION HEALTH FEDERAL SERVICES AS A PREFERRED LAB PROVIDER FOR 1.3 MILLION TRICARE BENEFICIARIES Apr 13, 2000 at 12:00 AM EDT PDF Version Burlington, NC, April 13, 2000 – Laboratory Corporation of America® Holdings (LabCorp®)) (NYSE: LH) announced today that it has been selected by Foundation Health Federal Services (FHFS) as a preferred lab provider for TRICARE beneficiaries in nine states. These states include Arkansas, California, Idaho, Louisiana, Oklahoma, Oregon, Texas and Washington, and Yuma, Arizona. TRICARE is the Department of Defense program that provides health care services to eligible military personnel and their families. Terms of the agreement were not disclosed. “Through broadened coverage of service for TRICARE beneficiaries, LabCorp strengthens its position as one of the largest national providers of laboratory services,” said Stevan R. Stark, executive vice president of LabCorp. “We're committed to providing TRICARE beneficiaries with convenient access and unsurpassed service to meet their laboratory testing needs.” As a single source laboratory provider, LabCorp offers its extensive range of services through a network of primary testing facilities and approximately 900 patient service centers throughout the United States. LabCorp's extensive network includes facilities strategically placed in close proximity to TRICARE providers and military bases that will allow LabCorp rapid, convenient, and dependable daily services for TRICARE beneficiaries. “We look forward to working with LabCorp and providing beneficiaries with convenient access to laboratory services in these nine states where we arrange health care services for TRICARE beneficiaries,” said Jim Woys, president and chief operating officer of FHFS. Beneficiaries and providers can access the most up-to-date listing of LabCorp Patient Service Centers by calling the Automated PSC Locator at 1-888-LABCORP (1-888-555-2677) or by visiting LabCorp's Web site at www.labcorp.com. Foundation Health Federal Services is the nation's largest administrator of managed care programs for military families, currently serving more than 1.5 million eligible military dependents under the Civilian Health and Medical Program of the Uniformed Services (CHAMPUS) – now referred to as TRICARE. FHFS currently administers TRICARE programs in eleven states, including Arkansas, Alaska, Arizona, California, Hawaii, Idaho, Louisiana, Oklahoma, Oregon, Texas and Washington. Laboratory Corporation of America® Holdings (LabCorp®) 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 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. 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.
