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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
JUNE 10, 1998
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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)
ITEM 5. OTHER EVENTS
On June 10, 1998, the Company issued a press release announcing that it has
completed its previously announced acquisition of certain of the assets of
Medlab, Inc. for an aggregate purchase price of approximately $9.3 million.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS
(c) Exhibit
20 Press release of the Company dated June 10, 1998.
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: July 7, 1998
FOR IMMEDIATE RELEASE
- --------------------- CONTACT: PAMELA SHERRY
336-584-5171, EXT. 4855
SHAREHOLDER DIRECT: 800-LAB-0401
WWW.LABCORP.COM
LABORATORY CORPORATION OF AMERICA-REGISTERED TRADEMARK- COMPLETES
ACQUISITION OF MEDLAB, INC.
DEAL WILL SIGNIFICANTLY INCREASE LABCORP'S DELAWARE PRESENCE
BURLINGTON, NC, JUNE 10, 1998 - Laboratory Corporation of America-Registered
Trademark- Holdings (LabCorp-Registered Trademark-) (NYSE: LH) today
announced that it has completed its previously announced acquisition of
certain of the assets of Medlab, Inc. (Medlab) for an aggregate cash purchase
price of approximately $9.3 million. Established in 1983, and based in
Wilmington, Delaware, Medlab is the largest provider of clinical laboratory
testing services in Delaware with annual revenues of approximately $22
million.
"We are pleased to have successfully completed this important acquisition of a
major laboratory in the Delaware marketplace," said Richard L. Novak,
Executive Vice President of Eastern Operations for LabCorp. "It is an
excellent strategic combination for LabCorp, expanding our coverage not only
in Delaware, but also sections of southeastern Pennsylvania and southern New
Jersey. Medlab has long been a respected regional laboratory with a loyal
base of physician clients. The combination of Medlab with LabCorp allows us
to even better serve our clients and their patients by offering more
conveniently located patient service centers and on-site testing facilities.
It also allows us to broaden the array of testing services currently available
to area physicians, particularly in specialized fields such as molecular
biology, genetics, oncology and infectious disease, where LabCorp's Center for
Molecular Biology and Pathology offers leading-edge technologies important in
swift and effective patient care."
Laboratory Corporation of America-Registered Trademark- Holdings (LabCorp-
Registered Trademark-) is a national clinical laboratory organization with
annual revenues of $1.5 billion in 1997. The Company operates primary testing
facilities nationally, offering more than 1,700 different clinical assays,
from routine blood analyses to more sophisticated technologies. LabCorp
performs diagnostic tests for physicians, managed-care organizations,
hospitals, clinics, long-term care facilities, industrial companies and other
clinical laboratories.