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

           July 1, 2009           
(Date of earliest event reported)

LABORATORY CORPORATION OF
AMERICA HOLDINGS

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 7.01. Regulation FD Disclosure

On July 1, 2009, Laboratory Corporation of America® Holdings (LabCorp®) (NYSE:LH) announced that it has completed the previously announced redemption of all of its outstanding zero coupon subordinated Liquid Yield Option™ Notes due 2021 (LYONs) and $369.1 million principal amount at maturity of its Zero Coupon Convertible Subordinated Notes due 2021 (Zero Coupon Notes), equaling fifty percent (50%) of the principal amount at maturity outstanding of the Zero Coupon Notes. The total cash used for these redemptions was approximately $289 million. As a result of certain holders of the Zero Coupon Notes electing to convert their Zero Coupon Notes, the Company also issued 432,787 additional shares of common stock.

At March 31, 2009, LabCorp had an aggregate of $576.3 million of accreted principal amount outstanding of the LYONs and of the Zero Coupon Notes. As a result of the redemptions, LabCorp reduced the outstanding accreted principal amount of this convertible debt by approximately $289.6 million, leaving approximately $286.7 million in accreted principal amount, or $369.1 million of principal amount at maturity, of the Zero Coupon Notes outstanding.

Exhibits

99.1 Press Release dated July 1, 2009

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SIGNATURES

Pursuant to the requirements of the Securities 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 (Registrant)
Date: July 1, 2009	By:	/s/F. Samuel Eberts III
		F. Samuel Eberts III, Chief Legal Officer and Secretary

 

Exhibit 99.1

 

 

 

LabCorp Redeems All Outstanding Liquid Yield Option™ Notes Due 2021 and $369.1
Million Principal Amount at Maturity of Zero Coupon

Convertible Subordinated Notes Due 2021

 

BURLINGTON, NC, July 1, 2009 – Laboratory Corporation of America® Holdings (LabCorp®) (NYSE:LH) announced today that it has completed the previously announced redemption of all of its outstanding zero coupon subordinated Liquid Yield Option™ Notes due 2021 (LYONs) and $369.1 million principal amount at maturity of its Zero Coupon Convertible Subordinated Notes due 2021 (Zero Coupon Notes), equaling fifty percent (50%) of the principal amount at maturity outstanding of the Zero Coupon Notes. The total cash used for these redemptions was approximately $289 million. As a result of certain holders of the Zero Coupon Notes electing to convert their Zero Coupon Notes, the Company also issued 432,787 additional shares of common stock.

 

At March 31, 2009, LabCorp had an aggregate of $576.3 million of accreted principal amount outstanding of the LYONs and of the Zero Coupon Notes. As a result of the redemptions, LabCorp reduced the outstanding accreted principal amount of this convertible debt by approximately $289.6 million, leaving approximately $286.7 million in accreted principal amount, or $369.1 million of principal amount at maturity, of the Zero Coupon Notes outstanding.

 

About LabCorp®  

 

Laboratory Corporation of America® Holdings, a S&P 500 company, is a pioneer in commercializing new diagnostic technologies and the first in its industry to embrace genomic testing. With annual revenues of $4.5 billion in 2008, over 28,000 employees worldwide, and more than 220,000 clients, LabCorp offers clinical assays ranging from routine blood analyses to HIV and genomic testing. LabCorp combines its expertise in innovative clinical testing technology with its Centers of Excellence: The Center for Molecular Biology and Pathology, National Genetics Institute, ViroMed Laboratories, Inc., The Center for Esoteric Testing, Litholink Corporation, DIANON Systems, Inc., US LABS, and Esoterix and its Colorado Coagulation, Endocrine Sciences, and Cytometry Associates laboratories. LabCorp conducts clinical trial testing through its Esoterix Clinical Trials Services division. LabCorp clients include physicians, government agencies, managed care organizations, hospitals, clinical labs, and pharmaceutical companies. To learn more about our organization, visit our Web site at: www.labcorp.com.

 

This press release contains forward-looking statements. Each of the 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, 2008, and subsequent SEC filings. 

 

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