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
DECEMBER 13, 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 December 13, 1999, Laboratory Corporation of America
Holdings (the Company) announced that it has finalized an
agreement with Humana, as preferred provider of laboratory
services for Humana's Employers Health Insurance Company
(EHI). Under the agreement, the Company will service EHI's
1.4 million covered lived throughout the country and, in the
future, will be a cornerstone laboratory services provider
for Humana's ChoiceCare Network.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS
(c) Exhibit
20 Press release of the Company dated
December 13, 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: December 22, 1999
Laboratory Corporation of America-Registered Trademark- Holdings
358 South Main Street
Burlington, NC 27215
Telephone: 336-584-5171
FOR IMMEDIATE RELEASE
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LabCorp Contact: Pamela Sherry Humana Contact: Dick Brown
336-584-5171, Ext. 4855 502-580-3683
www.labcorp.com dbrown@humana.com
LabCorp Shareholder Direct
800-LAB-0401
LABORATORY CORPORATION OF AMERICA-REGISTERED TRADEMARK-SERVES AS
PREFERRED PROVIDER TO HUMANA'S EHI 1.4 MILLION MEMBERS
AUTOMATED SYSTEM TO LOCATE NEAREST LABCORP PATIENT SERVICE CENTER INTRODUCED
Burlington, NC, December 13, 1999 - Laboratory Corporation of America-
Registered Trademark-(LabCorp-Registered Trademark-) (NYSE: LH) today
announced that it has finalizedd an agreement with Humana (NYSE: HUM),
as preferred provider of laboratory services for Humana's Employers Health
Insurance Company (EHI). Under the agreement, LabCorp will service EHI's
1.4 million covered lives throughout the country, and, in the future, will be
a cornerstone laboratory services provider for Humana's ChoiceCare Network.
Terms of the agreement were not disclosed.
"Our experience with LabCorp in designated markets throughout the
country has proven its commitment to meeting the needs of our patients and
providers," said Gail Scarborough, Humana's national director of ancillary
networks. "As a laboratory partner, LabCorp brings an unmatched breadth of
testing for quality, cost-effective laboratory services. In addition,
LabCorp's continued advances in information services has significantly
strengthened its ability to provide timely utilization and disease
management reporting."
"LabCorp is excited about the opportunity to expand our relationship with
Humana as it moves to internally manage its network of services," said
Stevan R. Stark, executive vice president of LabCorp. "As a technology
leader with approximately 900 LabCorp-owned patient service centers and more
than 100,000 physicians using our services throughout the United States,
we are positioned to service the majority of Humana's EHI members. With
strong steerage of services, LabCorp will be able to provide useful
reporting to Humana to help it monitor lab data as a means of ensuring
the best quality of care."
LabCorp also announced today that it has taken an additional step
in the focused use of technology to improve interaction with its diverse
customer base by releasing its Automated Patient Service Center (PSC)
Locator via 1-888-LABCORP (522-2677). By dialing this number, physicians
or patients can access a listing of LabCorp's patient service centers by
simply entering their five-digit ZIP code. Callers can select to receive
a list of LabCorp-owned facilities for routine clinical testing or
occupational drug screening. Customers may also review a listing of LabCorp
PSCs, along with corresponding maps, via LabCorp's web site at www.labcorp.com.
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, pharmaceutical and Fortune 1000 companies, and other clinical
laboratories.
Humana Inc., headquartered in Louisville, Kentucky, is one of the nation's
largest publicly traded managed health care companies with approximately
6 million medical members located primarily in 15 states and Puerto Rico.
Humana offers coordinated health care through a variety of plans - health
maintenance organizations, preferred provider organizations, point-of-service
plans, and administrative services products - to employer groups,
government-sponsored plans, and individuals.
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 the companies' financial
results is included in each company's Form 10-K for the year ended
December 31, 1998 and subsequent filings.
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