ROCHE HOLDINGS, INC. COMPLETES SALE OF 3.625 MILLION SHARES OF LABCORP® COMMON STOCK
16 October 2000
Contact: 336-436-4855 Shareholder Direct: 800-LAB-0401
Pamela Sherry www.labcorp.com
ROCHE HOLDINGS, INC. COMPLETES SALE OF 3.625 MILLION SHARES OF LABCORP(R) COMMON STOCK
Burlington, NC, October 16, 2000 -- Laboratory Corporation of America(R) Holdings (NYSE: LH) (LabCorp(R)) announced today that Roche Holdings, Inc. (Roche), a subsidiary of Hoffmann-La Roche of Switzerland and the current owner of 44% of LabCorp's common stock, on October 13, 2000 sold 3,625,000 shares of LabCorp in a SEC-registered public offering through underwriters led by Credit Suisse First Boston.
The offering also included 150,000 shares sold by two LabCorp officers. If the underwriters exercise the option to purchase an additional 375,000 shares from Roche to cover over-allotments, Roche's holding would be reduced to approximately 32%.
LabCorp is a national clinical laboratory with annual revenues of $1.7 billion in 1999. Its clients include physicians, state and federal government, managed care organizations, hospitals, clinics, pharmaceutical and Fortune 1000 companies, and other clinical laboratories.
Pamela Sherry www.labcorp.com
ROCHE HOLDINGS, INC. COMPLETES SALE OF 3.625 MILLION SHARES OF LABCORP(R) COMMON STOCK
Burlington, NC, October 16, 2000 -- Laboratory Corporation of America(R) Holdings (NYSE: LH) (LabCorp(R)) announced today that Roche Holdings, Inc. (Roche), a subsidiary of Hoffmann-La Roche of Switzerland and the current owner of 44% of LabCorp's common stock, on October 13, 2000 sold 3,625,000 shares of LabCorp in a SEC-registered public offering through underwriters led by Credit Suisse First Boston.
The offering also included 150,000 shares sold by two LabCorp officers. If the underwriters exercise the option to purchase an additional 375,000 shares from Roche to cover over-allotments, Roche's holding would be reduced to approximately 32%.
LabCorp is a national clinical laboratory with annual revenues of $1.7 billion in 1999. Its clients include physicians, state and federal government, managed care organizations, hospitals, clinics, pharmaceutical and Fortune 1000 companies, and other clinical laboratories.