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Burlington,
NC, July 7, 2003
- Laboratory Corporation of America Holdings
(LabCorp®) (NYSE: LH) today
announced
that it has entered into a marketing and distribution
relationship with Atherotech, a leading cardiodiagnostic
company and specialty reference laboratory, to offer its
proprietary Vertical Auto Profile (VAP™) Cholesterol
Test. The
multi-year agreement includes a provision for the
transfer of patented testing technology to LabCorp,
after which, if certain conditions are met, LabCorp
would become the first clinical laboratory licensed to
perform the cardiovascular disease risk assessment assay
within its own national laboratory system.
This
innovative partnership will ensure broader patient
access for Atherotech’s VAP Test technology through
LabCorp’s extensive sales and distribution network,
while adding an important test to LabCorp’s already
broad menu of esoteric assays for cardiovascular
disease.
According to the American Heart Association,
coronary heart disease kills more Americans than any
other illness, and reducing risk factors is extremely
important.
Atherotech’s VAP Test is an expanded cholesterol
test designed to improve the identification of people at
risk for heart disease. It provides
direct, detailed measurements of cholesterol subclasses
that play important roles in the development of heart
disease.
“We
are pleased to offer the VAP Cholesterol Test as part of
our broadly available menu of service offerings for
cardiovascular disease,” said Myla Lai-Goldman, MD,
executive vice president, medical director and chief
scientific officer for LabCorp. “Many of our
physician customers have been asking for this valuable
test to help improve patient care. This initial
strategic partnership with Atherotech is significant
because it will increase patient access to important
cardiovascular technology. We also continue to explore
additional opportunities to further expand our
relationship with Atherotech.”
“Cardiovascular
disease is a major public health problem affecting
nearly 60 million Americans, and the need for increased
access to effective cardiovascular disease risk
assessment tools is clear,” said Atherotech President
and Chief Executive Officer Roseanne Varner. “This new
marketing and distribution relationship with LabCorp
allows us to reach significantly more physicians who
need technologies like our VAP Test to develop
appropriate cardiovascular therapies for their
patients.”
About
Atherotech
Atherotech,
based in Birmingham, Ala., is dedicated to improving the
prevention, early diagnosis, and treatment of heart
disease and other cardiovascular diseases that kill
nearly 1 million people each year. The company’s
VAP Cholesterol Test, the new standard of care for
cholesterol risk assessment, meets updated National
Cholesterol Education Program guidelines, which call for
improved patient diagnosis and more aggressive treatment
of heart disease.
The test is reimbursed by a growing number of
insurers and managed care organizations. For more information, visit the company's
Web site at www.thevaptest.com.
About
LabCorp
The
first national clinical laboratory to fully embrace
genomic testing, Laboratory Corporation of
America® Holdings (LabCorp®) has
been a pioneer in commercializing new diagnostic
technologies.
As a national laboratory with annual revenues of
$2.5 billion in 2002 and over 24,000 employees, the
Company offers more than 4,000 clinical tests ranging
from routine blood analyses to sophisticated molecular
diagnostics. Serving over 200,000 clients nationwide,
LabCorp combines its expertise in innovative clinical
testing technology with its Centers of Excellence. The
Center for Molecular Biology and Pathology, in Research
Triangle Park, North Carolina, offers state-of-the-art
molecular gene-based testing in infectious disease,
oncology and genetics. DIANON Systems, its
Anatomic Pathology Center of Excellence, is a leader in
oncology and genetic testing, and National Genetics
Institute in Los Angeles is an industry leader in
developing novel, highly sensitive polymerase chain
reaction (PCR) methods for testing hepatitis C and other
blood borne infectious agents. LabCorp’s
Minneapolis-based ViroMed offers molecular microbial
testing using real time PCR platforms, while its Center
for Esoteric Testing in Burlington, North Carolina,
performs the largest volume of specialty testing in the
network.
LabCorp’s clients include physicians, state and
federal government, managed care organizations,
hospitals, clinics, pharmaceutical and Fortune 1000
companies, and other clinical
laboratories.
Each
of the above 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, 2002 and subsequent SEC filings.
ForLabCorp: Pamela Sherry
336-436-4855
For Atherotech:
Barbara Sullivan
714-374-6174
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