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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
September 3, 2003
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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 9. Regulation FD Disclosure.
Laboratory Corporation of America-Registered Trademark- Holdings
(LabCorp-Registered Trademark-) (NYSE:LH) today announced the settlement
of a lawsuit brought by its subsidiary DIANON Systems, Inc. against five
former employees and Diapath LLC. The case, filed last June in Federal Court
in New York, contended that the former employees had, among other things,
engaged in unfair trade practices in attempt to get DIANON customers to send
their samples to their new lab venture, Diapath.
The press release announcing the legal settlement is attached
hereto as Exhibit 99.1 and is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS
(c) Exhibit
99.1 Press release of the Company dated September 3, 2003
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
and Secretary
Date: September 3, 2003
EXHIBIT INDEX
Exhibit Description
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99.1 Press Release dated September 3, 2003
Laboratory Corporation of America -Registered Trademark- Holdings
358 South Main Street
Burlington, NC 27215
Telephone: 336-584-5171
FOR IMMEDIATE RELEASE
Contact: 336-436-4855
Pamela Sherry
Investor@labcorp.com
Shareholder Direct: 800-LAB-0401
www.labcorp.com
LABCORP ANNOUNCES LEGAL SETTLEMENT
Burlington, NC, September 3, 2003 - Laboratory Corporation of America
- -Registered Trademark- Holdings (LabCorp -Registered Trademark-) (NYSE: LH)
today announced today the settlement of a lawsuit brought by its subsidiary
DIANON Systems, Inc. against five former employees and Diapath LLC. The case,
filed last June in Federal Court in New York, contended that the former
employees had, among other things, engaged in unfair trade practices in
attempt to get DIANON customers to send their samples to their new lab
venture, Diapath.
Without admitting wrongdoing, the defendants agreed to certain conditions that
would prevent unfair competition including the agreement not to solicit the
business of certain DIANON customers for a set period of time. The defendants
also agreed to dismiss their counterclaims, pay a significant monetary sum,
and to discontinue the use of the name Diapath. The settlement is subject to
the approval of the Court.
About LabCorp
The first national clinical laboratory to fully embrace genomic testing,
Laboratory Corporation of America -Registered Trademark- Holdings (LabCorp -
Registered Trademark-) has been a pioneer in commercializing new diagnostic
technologies. As a national laboratory with annual revenues of $2.5 billion
in 2002 and over 24,000 employees, the Company offers more than 4,000 clinical
tests ranging from routine blood analyses to sophisticated molecular
diagnostics. Serving over 200,000 clients nationwide, LabCorp combines its
expertise in innovative clinical testing technology with its Centers of
Excellence. The Center for Molecular Biology and Pathology, in Research
Triangle Park, North Carolina, offers state-of-the-art molecular gene-based
testing in infectious disease, oncology and genetics. DIANON Systems, its
Anatomic Pathology Center of Excellence, is a leader in oncology and genetic
testing, and National Genetics Institute in Los Angeles is an industry leader
in developing novel, highly sensitive polymerase chain reaction (PCR) methods
for testing hepatitis C and other blood borne infectious agents. LabCorp's
Minneapolis-based ViroMed offers molecular microbial testing using real time
PCR platforms, while its 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. Actual results could differ materially from those suggested by these
forward-looking statements. 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, 2002 and subsequent SEC filings.