BURLINGTON, N.C., Aug 10, 2009 (BUSINESS WIRE) -- Laboratory Corporation of America(R) Holdings (NYSE: LH) today announced
that its Board of Directors has authorized a new stock repurchase
program under which LabCorp may purchase up to an aggregate of $250
million of its Common Stock from time-to-time. LabCorp purchased a total
of $500 million of its Common Stock under its previously announced and
completed stock repurchase program, $95.2 million of which was completed
since the end of the second quarter of 2009.
Any purchases under LabCorp's stock repurchase program may be made from
time-to-time in the open market or in privately negotiated transactions
and may be initiated and discontinued at any time.
About LabCorp(R)
Laboratory Corporation of America(R) 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, Inc., 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.
SOURCE: Laboratory Corporation of America(R) Holdings
Laboratory Corporation of America(R) Holdings
Investor/Media Contact:
Bill Bonello - 336-436-7732
Company Information: www.labcorp.com
