Thomas P. Mac Mahon to Retire from Board of Directors at the End of
His Current Term; Peter M. Neupert Named to the Board of Directors
Effective January 1, 2013
BURLINGTON, N.C.--(BUSINESS WIRE)--Oct. 11, 2012--
Laboratory Corporation of America® Holdings (LabCorp®)
(NYSE:LH) today announced that Thomas P. Mac Mahon has informed the
Board of Directors of his decision to retire from the Board at the
conclusion of his current term on May 8, 2013. The Company also
announced that Peter M. Neupert has been appointed to its Board of
Directors, effective January 1, 2013.
Mr. Mac Mahon has served as Director of LabCorp since 1995. From 1997
until his retirement in 2006, Mr. Mac Mahon also served as President and
Chief Executive Officer of the Company. From 2007 to 2009, Mr. Mac Mahon
served as non-executive Chairman of the Board. “Tom has contributed
immeasurably to LabCorp during his 30-year association with LabCorp and
the diagnostic industry,” said David P. King, Chairman and Chief
Executive Officer. “On behalf of the Board and the 31,000 employees of
LabCorp, I would like to express our deep gratitude for his years of
dedicated service."
“We are also delighted that Peter Neupert, one of the world’s top health
information technology executives, has accepted our invitation to join
the LabCorp Board of Directors, effective January 1, 2013,” said Mr.
King. “Peter’s broad experience, ranging from start-ups to the largest
global companies, brings an important perspective on the role of IT in
delivering knowledge to payors, providers and patients, a critical part
of our business strategy.”
Mr. Neupert is an operating partner of Health Evolution Partners; a
health only, middle market private equity firm. Prior to joining Health
Evolution Partners, Mr. Neupert served as Corporate Vice President of
the Microsoft Health Solutions Group from 2005 to 2012 and served as
President and Chief Executive Officer of drugstore.com from 1998 to
2001. Mr. Neupert served on the President’s Information Technology
Advisory Committee from 2003 to 2005, co-chairing the Health Information
Technology subcommittee. He is a Trustee of the Fred Hutchinson Cancer
Research Center and was an active member of the Institute of Medicine’s
Roundtable on Value and Science-Driven Healthcare. Mr. Neupert received
his MBA with high distinction from AmosTuck School of Business,
Dartmouth College.
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 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 LabCorp
Clinical Trials 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,
2011, and subsequent SEC filings.
Source: Laboratory Corporation of America® Holdings
Laboratory Corporation of America® Holdings
Stephen Anderson,
336-436-5274
Shareholder Direct: 800-LAB-0401
www.LabCorp.com
