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
APRIL 19, 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)
ITEM 5. OTHER EVENTS
On April 19, 2000, Laboratory Corporation of America-
Registered Trademark- Holdings (LabCorp-Registered Trademark-)
announced that it has completed the acquisition of certain
clinical testing assets of Bio-Diagnostics Laboratories
(BDL). Based in Torrance, California, BDL is the largest
provider of clinical laboratory testing services in the
South Bay area of Los Angeles County. BDL had annual
clinical revenues in 1999 of approximately $12 million.
Terms of the agreement were not disclosed.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS
(c) Exhibit
20 Press release of the Company dated
April 19, 2000.
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 2, 2000
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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Contact: 336-436-4855 Shareholder Direct: 800-LAB-0401
Pamela Sherry www.labcorp.com
LABORATORY CORPORATION OF AMERICA-REGISTERED TRADEMARK- COMPLETES
ACQUISITION OF BIO-DIAGNOSTICS LABORATORIES
Burlington, NC, April 19, 2000 - Laboratory Corporation of
America-Registered Trademark- Holdings (LabCorp-Registered
Trademark-) (NYSE: LH) today announced that it has completed the
acquisition of certain clinical testing assets of Bio-Diagnostics
Laboratories (BDL). Based in Torrance, California, BDL is the
largest provider of clinical laboratory testing services in the
South Bay area of Los Angeles County. BDL had annual clinical
revenues in 1999 of approximately $12 million. Terms of the
agreement were not disclosed.
"The combination of LabCorp and BDL will allow us to greatly
enhance our laboratory services in the South Bay area of Los
Angeles as well as expand our presence into northern Orange County,
Long Beach, and Santa Monica," said Richard L. Novak, executive
vice president and chief operating officer of LabCorp. "This is
LabCorp's second acquisition in Southern California this year, and
further strengthens our market position in that region. BDL adds
12 patient service centers to our infrastructure in greater Los
Angeles, giving area physicians and hospitals greater access to
LabCorp's leading-edge specialty tests and national information
network."
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
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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