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Laboratory Corporation of America: 358 South Main Street

The following excerpt is from the company's SEC filing.

Burlington, NC 27215

Telephone: (336) 584-5171

LabCorp Acquires Safe Foods International Holdings

Transaction Expands Capabilities in Food and Beverage product-development and product-integrity

Laboratory Corporation of America

Holdings (LabCorp

) (NYSE: LH) today announced the acquisition of Safe Foods International Holdings, LLC (SFIH) and its two operating companies, International Food Network (IFN) and The National Food Laboratory (The NFL). With the addition of IFN and The NFL, LabCorp now offers an expanded range of ind ustry-leading services to the global food, beverage and nutrition industries through Covance’s Nutritional Chemistry and Food Safety business. Terms of the transaction were not disclosed.

“We identified nutritional chemistry and food safety as an exciting growth opportunity for our company immediately after the acquisition,” said David P. King, chairman and chief executive officer of LabCorp. “International Food Network and The National Food Laboratory represent our first major expansion in this important area, and we are delighted that these high-quality companies and their outstanding teams are joining our company. With this acquisition, we extend our capabilities to offer a full range of product-development and product-integrity services to food and beverage manufacturers and retailers, industry organizations, and academic institutions.”

“This was the right time, and the right partner, for our business to become part of a larger organization,” said Johannes Burlin, president of SFIH. “We are excited to join Covance, and we look forward to...