Current Report Filing (8-k)
August 24 2015 - 4:17PM
Edgar (US Regulatory)
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 24, 2015
(Date of earliest event reported)
LABORATORY CORPORATION OF
AMERICA HOLDINGS
(Exact Name of Registrant as Specified in its Charter)
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Delaware | | 1-11353 | | 13-3757370 |
(State or other jurisdiction of Incorporation) | | (Commission File Number) | | (I.R.S. Employer Identification No.) |
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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:
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[ ] | Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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[ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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[ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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[ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Item 7.01 | Regulation FD Disclosure |
On August 24, 2015, Laboratory Corporation of America® Holdings (LabCorp®) (LH: NYSE) announced that Covance Drug Development (Covance) has received a multi-year award from a leading pharmaceutical company to use Covance’s Xcellerate® platform as an exclusive central monitoring solution for their worldwide clinical trials portfolio. This landmark agreement with a top-tier pharmaceutical company for Covance’s first-in-kind Software-as-a-Service (SaaS) offering reflects the company’s unique technology capabilities, and reinforces its position as an industry innovator and leader in clinical informatics solutions.
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99.1 Press Release dated August 24, 2015 |
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
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| By: | /s/ F. SAMUEL EBERTS III |
| | F. Samuel Eberts III |
| | Chief Legal Officer and Secretary |
August 24, 2015
Exhibit 99.1
FOR IMMEDIATE RELEASE
LabCorp Investor/Media Contact:
Paul Surdez - 336-436-5076
Company Information: www.labcorp.com
358 South Main Street
Burlington, NC 27215
Telephone: (336) 584-5171
Covance Announces Pioneering Agreement with Leading Pharmaceutical Company for Worldwide Portfolio-Level Clinical Trial Monitoring
Xcellerate® Monitoring sets new standard for risk-based monitoring of clinical trials
Princeton, N.J. - August 24, 2015 - Laboratory Corporation of America® Holdings (LabCorp®) (NYSE: LH) today announced that Covance Drug Development (Covance) has received a multi-year award from a leading pharmaceutical company to use Covance’s Xcellerate® platform as an exclusive central monitoring solution for their worldwide clinical trials portfolio. This landmark agreement with a top-tier pharmaceutical company for Covance’s first-in-kind Software-as-a-Service (SaaS) offering reflects the company’s unique technology capabilities, and reinforces its position as an industry innovator and leader in clinical informatics solutions.
Covance’s Xcellerate Clinical Trial OptimizationTM suite is a proprietary, technology-enabled solution set, designed and proven to help biopharmaceutical companies meaningfully reduce the cost, time, complexity and risk associated with clinical trials. As part of this platform, which also includes Xcellerate Forecasting & Site Selection, Xcellerate Trial Management and Xcellerate Insights, Xcellerate Monitoring helps clients proactively identify and mitigate clinical trial risks in near real time for a single study or across an entire portfolio of trials. By leveraging consistent processes and practices under a single, world-class technology platform, Xcellerate Monitoring centralizes and consolidates all clinical trial data, enhances patient safety, improves trial efficiency and proactively enables clients to identify and mitigate potential risks.
“This is an exciting opportunity, in collaboration with a long-standing client, to leverage the unique power of Xcellerate Monitoring to help our client make more informed decisions, lower risks and drive faster results across its global clinical trial portfolio,” said Deborah Keller, CEO of Covance. “As an industry leader in creating technology-enabled solutions to accelerate drug development, Covance is committed to building scalable, replicable platforms such as Xcellerate to help biotechnology and pharmaceutical companies bring innovative new medicines to patients.”
Covance is reshaping clinical trials to transform the industry and improve lives. For more information about Xcellerate Monitoring and the full Xcellerate technology platform, visit covance.com.
About LabCorp®
Laboratory Corporation of America® Holdings, an S&P 500 company, is the world’s leading healthcare diagnostics company, providing comprehensive clinical laboratory services through LabCorp Diagnostics, and end-to-end drug development support through Covance Drug Development. LabCorp is a pioneer in commercializing new diagnostic technologies and is improving people’s health by delivering the combination of world-class diagnostics, drug development and knowledge services. With combined revenue pro forma for the acquisition of Covance in excess of $8.5 billion in 2014 and more than 48,000 employees in over 60 countries, LabCorp offers innovative solutions to healthcare stakeholders. LabCorp clients include physicians, patients and consumers, biopharmaceutical companies, government agencies, managed care organizations, hospitals, and clinical labs. To learn more about Covance Drug Development, visit www.covance.com. To learn more about LabCorp and LabCorp Diagnostics, visit www.labcorp.com.
This press release contains forward-looking statements including with respect to estimated 2015 guidance and the impact of various factors on operating results. Each of the forward-looking statements is subject to change based on various important factors, including without limitation, competitive actions in the marketplace, adverse actions of governmental and other third-party payers and the results from the Company’s acquisition of Covance. Actual results could differ materially from those suggested by these forward-looking statements. Further information on potential factors that could affect LabCorp’s operating and financial results is included in the Company’s Form 10-K for the year ended December 31, 2014, and the Company’s Form 10-Q for the quarter ended June 30, 2015, including in each case under the heading risk factors, and in the Company’s other filings with the
SEC, as well as in the risk factors included in Covance’s 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, 2014, and subsequent Forms 10-Q, under the heading MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
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