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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
May 10, 1999
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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 May 10, 1999, the Company issued a press release along
with Roche Diagnostics Corporation, announcing an initiative
that provides a new on-site testing program called Rapid
Assessment of Drug and Alcohol Results to employers.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS
(c) Exhibit
20 Press release of the Company dated
May 10, 1999.
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: June 3, 1999
Laboratory Corporation of America-Registered Trademark- Holdings
358 South Main Street
Burlington, NC 27215
FOR IMMEDIATE RELEASE
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CONTACT: 336-584-571 SHAREHOLDER DIRECT: 800-LAB-0401
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MEDIA - CYNTHIA JAY, EXT. 5052 WWW.LABCORP.COM
INVESTORS - PAMELA SHERRY, EXT. 4855
LABCORP-REGISTERED TRADEMARK AND ROCHE DIAGNOSTICS TEAM TO
PROVIDE DRUG TESTING RESULTS
IN LESS THAN ONE HOUR
BURLINGTON, NORTH CAROLINA - MAY 10, 1999 -- Laboratory
Corporation of America-Registered Trademark-Holdings (LabCorp-
Registered Trademark-) (NYSE: LH), headquartered in Burlington,
North Carolina, and Roche Diagnostics Corporation (RDC), with
corporate headquarters in Indianapolis, Indiana, announce an
initiative that provides a new on-site testing program called
Rapid Assessment of Drug and Alcohol Results (RAdar) to
employers. In addition to LabCorp's strength in lab-based urine
testing, this combination will provide the employer the largest
network of on-site testing capability in the United States.
LabCorp is the largest provider of drug testing services in the
United States and RDC is the leading innovator of on-site drug
testing products. The quick and innovative system could change
the way corporations approach drug testing.
"With unemployment rates at all-time lows, competition to
hire highly-qualified staff from the pool of available personnel
becomes more intense," said Randy Simmons, senior vice president
of LabCorp's occupational testing business. "On-site testing
gives the employer another option to obtain drug testing results
within hours." The process provides results determined by
guidelines that consider recognized quality control factors,
technologies, and chain of custody concepts.
LabCorp will use Roche Diagnostics' product, TesTcup-
Registered Trademark-, for collection. Specially designed for on-
site use in the workplace, criminal justice, emergency room, and
drug treatment testing markets, TesTcup-Registered Trademark- is
a self-contained, integrated collection and testing device that
provides results in minutes. "The RAdar program is effective for
customers who need fast turnaround time while ensuring quality
results," said Mark Williams, vice president, point of care, for
RDC. "It gives employers the tools to make more rapid hiring
decisions when they need to."
Some of the features of the program include:
1) Immediate testing of the specimen, screening for
amphetamines, PCP, opiates, cannabinoids, and cocaine.
2) Chain of custody specimen collection at an approved LabCorp
patient service center location.
3) Negative screening results entered into LabCorp's
computerized reporting system; positive specimens automatically
sent to one of LabCorp's SAMHSA-accredited reference laboratories
for confirmation.
4) Use of the new Compliance Software Incorporated software
system to integrate the TesTcup-Registered Trademark- on-site
testing system with the lab and customers' reporting software.
The Roche Group is a world leader in research-based health
care with its principal business activities in pharmaceuticals,
diagnostics, vitamins, fragrances and flavors. Through the
company's Diagnostics Division, innovative products and services
are made available to physicians, patients, hospitals and
laboratories worldwide.
Laboratory Corporation of America-Registered Trademark-
Holdings (LabCorp-Registered Trademark-) is a national clinical
laboratory with annual revenues of $1.6 billion in 1998. 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, long-term care facilities,
companies, and other clinical laboratories.
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