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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
AUGUST 5, 1998
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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 August 5, 1998, Laboratory Corporation of America
Holdings ("the Company") issued a press release announcing
that it has completed its previously announced acquisition
of Universal Standard Healthcare, Inc.'s (UHCI) Michigan-
based clinical laboratory division. The acquisition makes
the Company one of the largest clinical laboratories
operating in Michigan. UHCI's laboratory had 1997 revenues
of approximately $37 million. The Company also acquired an
equity position in UHCI and has become UHCI's clinical
laboratory testing provider under a long-term agreement.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS
(c) Exhibit
20 Press release of the Company dated August 5, 1998.
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: August 17, 1998
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Laboratory Corporation of America-Registered Trademark- Holdings
358 South Main Street
Burlington, NC 27215
Telephone: 336-584-5171
FOR IMMEDIATE RELEASE CONTACT: Pamela Sherry
336-584-5171, Ext. 4855
SHAREHOLDER DIRECT: 800-LAB-0401
www.labcorp.com
LABCORP-REGISTERED TRADEMARK- COMPLETES ACQUISITION OF UNIVERSAL
STANDARD HEALTHCARE'S MICHIGAN-BASED LABORATORY DIVISION
BURLINGTON, NC, AUGUST 5, 1998 - Laboratory Corporation of
America-Registered Trademark- Holdings (LabCorp-Registered
Trademark-) (NYSE: LH) and Universal Standard Healthcare, Inc.
(UHCI) (NASDAQ: UHCI) today announced that LabCorp has completed
its previously announced acquisition of UHCI's Michigan-based
clinical laboratory division. The acquisition makes LabCorp one
of the largest clinical laboratories operating in Michigan.
UHCI's laboratory had 1997 revenues of approximately $37 million.
LabCorp also acquired an equity position in UHCI and has become
UHCI's clinical laboratory testing provider under a long-term
agreement.
Universal Standard Healthcare, Inc. is a premier managed-
care health services provider operating in all 50 states,
currently providing clinical laboratory, out-patient diagnostic
imaging, and home medical services (including durable medical
equipment and supplies) coverage to employers on a capitated
basis. "Covered persons" under these managed-care contracts
exceed 1.6 million. The LabCorp-UHCI provider agreement gives
LabCorp an opportunity to expand testing services nationally and
provides valuable market information to better understand the
mechanisms utilized for processing and paying managed-care
claims.
Laboratory Corporation of America-Registered Trademark-
Holdings (LabCorp-Registered Trademark-) is a national clinical
laboratory organization with annual revenues of $1.5 billion in
1997. The Company operates primary testing facilities
nationally, offering more than 1,700 different clinical assays,
from routine blood analyses to more sophisticated technologies.
LabCorp performs diagnostic tests for physicians, managed-care
organizations, hospitals, clinics, long-term care facilities,
industrial companies and other clinical laboratories.
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