BURLINGTON, N.C.--(BUSINESS WIRE)--Mar. 13, 2012--
Laboratory Corporation of America® Holdings (LabCorp®)
(NYSE: LH) announced today that for the period of March 12, 2012 to
September 11, 2012, its Zero Coupon Convertible Subordinated Notes due
2021 (Zero Coupon Notes) will, subject to the terms of the Zero Coupon
Notes, accrue contingent cash interest at a rate of no less than 0.125%
of the average market price of a Zero Coupon Note for the five trading
days ended March 7, 2012, in addition to the continued accrual of the
original issue discount. Contingent cash interest, which the Company has
determined to be approximately $1.50 per Note, will be payable to
holders of the Zero Coupon Notes as of the record date, which is August
26, 2012. The payment of contingent cash interest is expected to be made
on September 11, 2012.
About LabCorp®
Laboratory Corporation of America® Holdings, an 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 $5.5 billion in 2011, over 31,000 employees worldwide, and
more than 220,000 clients, LabCorp offers more than 4,000 tests ranging
from routine blood analyses to reproductive genetics to companion
diagnostics. LabCorp furthers its scientific expertise and innovative
clinical testing technology through its specialized labs and the LabCorp
Specialty Testing Group: The Center for Molecular Biology and Pathology,
National Genetics Institute, ViroMed Laboratories, Inc., The Center for
Esoteric Testing, Litholink Corporation, Integrated Genetics, Integrated
Oncology, DIANON Systems, Inc., Monogram Biosciences, Inc.,
Colorado Coagulation, and Endocrine Sciences. LabCorp conducts clinical
trials testing through its Esoterix Clinical Trials Services. 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,
2011, and subsequent SEC filings.
Source: Laboratory Corporation of America® Holdings
LabCorp
Stephen Anderson, 336-436-5274
www.labcorp.com
