BURLINGTON, N.C. … The board of directors of Laboratory Corporation of America Holdings (NYSE: LH) has authorized a stock repurchase program under which LabCorp may purchase up to an aggregate of $150 million of its common stock.

The purpose of LabCorp’s stock repurchase program is consistent with its goal of making prudent investments of the company’s cash resources. Any purchases under the program may be made from time to time in the open market or in privately negotiated transactions and may be initiated and discontinued at any time.

As of Oct. 21, LabCorp had approximately 147.8 million common shares outstanding. Common stock acquired through the program will be available for general corporate purposes. There are currently no specific plans for the shares which may be purchased under the program.

LabCorp offers more than 4,000 clinical tests, ranging from routine analyses to sophisticated molecular diagnostics, and serves more than 200,000 physicians, hospitals, managed care networks, government agencies and pharmaceutical companies nationwide.

LabCorp: www.labcorp.com