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 24, 2018
(Date of earliest event reported)
LABORATORY CORPORATION OF
AMERICA HOLDINGS
(Exact Name of Registrant as Specified in its Charter)
Delaware | 1-11353 | 13-3757370 | ||
(State or other jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||
358 South Main Street, | ||||
Burlington, North Carolina | 27215 | 336-229-1127 | ||
(Address of principal executive offices) | (Zip Code) | (Registrant’s telephone number including area code) | ||
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 communication 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 |
Burlington, N.C., Sept. 24, 2018 - LabCorp® (NYSE: LH) today issued the following statement regarding the decision from the U.S. District Court for the District of Columbia in ACLA v. Azar on Friday, Sept. 21, to dismiss the laboratory industry’s lawsuit to halt implementation of damaging cuts to Medicare reimbursement for lab testing:
“We are deeply disappointed in the district court’s decision and believe that its conclusion that it did not have the authority to act in this matter is erroneous,” said David P. King, chairman and CEO of LabCorp. “It is, however, important that the court stated that ACLA’s arguments raise ‘important questions’ about CMS's data gathering. The court’s refusal to reach the merits of these important questions makes it critical for Congress to act quickly to force CMS to comply with the law as written. We are evaluating all of our options alongside our industry association ACLA and our industry colleagues to help protect Medicare beneficiaries’ continued access to needed lab testing.”
Exhibit Index | |
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
By: | /s/ F. SAMUEL EBERTS III | |
F. Samuel Eberts III | ||
Chief Legal Officer and Secretary | ||
September 24, 2018
Exhibit 99.1
FOR IMMEDIATE RELEASE
Contact: Pattie Kushner (media) - +1 336-436-8263
Media@labcorp.com
Scott Frommer (investors) - +1 336-436-5076
Investor@labcorp.com
Company Information: www.labcorp.com
358 South Main Street
Burlington, NC 27215
Telephone: (336) 584-5171
LABCORP STATEMENT ON DISTRICT COURT OPINION IN ACLA LAWSUIT AGAINST HHS
Burlington, N.C., Sept. 24, 2018 - LabCorp® (NYSE: LH) today issued the following statement regarding the decision from the U.S. District Court for the District of Columbia in ACLA v. Azar on Friday, Sept. 21, to dismiss the laboratory industry’s lawsuit to halt implementation of damaging cuts to Medicare reimbursement for lab testing:
“We are deeply disappointed in the district court’s decision and believe that its conclusion that it did not have the authority to act in this matter is erroneous,” said David P. King, chairman and CEO of LabCorp. “It is, however, important that the court stated that ACLA’s arguments raise ‘important questions’ about CMS's data gathering. The court’s refusal to reach the merits of these important questions makes it critical for Congress to act quickly to force CMS to comply with the law as written. We are evaluating all of our options alongside our industry association ACLA and our industry colleagues to help protect Medicare beneficiaries’ continued access to needed lab testing.”
About LabCorp
LabCorp (NYSE: LH), an S&P 500 company, is a leading global life sciences company that is deeply integrated in guiding patient care, providing comprehensive clinical laboratory and end-to-end drug development services. With a mission to improve health and improve lives, LabCorp delivers world-class diagnostic solutions, brings innovative medicines to patients faster and uses technology to improve the delivery of care. LabCorp reported net revenues of more than $10 billion for 2017. To learn more about LabCorp, visit www.labcorp.com, and to learn more about Covance Drug Development, visit www.covance.com.
Forward-looking Statement
This press release contains forward-looking statements including but not limited to statements with respect to estimated 2018 guidance and the related assumptions, the impact of various factors on operating and financial results, expected savings and synergies (including from the LaunchPad initiative and from acquisitions), and the opportunities for future growth. Each of the forward-looking statements is subject to change based on various important factors, including without limitation, competitive actions and other unforeseen changes and general uncertainties in the marketplace, changes in government regulations, including healthcare reform, customer purchasing decisions, including changes in payer regulations or policies, other adverse actions of governmental and third-party payers, changes in testing guidelines or recommendations, adverse results in material litigation matters, the impact of changes in tax laws and regulations, failure to maintain or develop customer relationships, our ability to develop or acquire new products and adapt to technological changes, failure in information technology, systems or data security, employee relations, and the effect of exchange rate fluctuations. Actual results could differ materially from those suggested by these forward-looking statements. The Company has no obligation to provide any updates to these forward-looking statements even if its expectations change. Further information on potential factors, risks and uncertainties that could affect operating and financial results is included in the Company’s Form 10-K for the year ended December 31, 2017, and subsequent Forms 10-Q, including in each case under the heading risk factors, and in the Company’s other filings with the SEC. The information in this press release should be read in conjunction with a review of the Company’s filings with the SEC including the information in the Company’s Form 10-K for the year ended December 31, 2017, and subsequent Forms 10-Q, under the heading MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.