Laboratory Corporation of America® Holdings (LabCorp®) (NYSE: LH) announced today that it has extended the term of its agreement with UnitedHealthcare Insurance Company (UnitedHealthcare), an affiliate of UnitedHealth Group Incorporated (NYSE: UNH) for an additional two years. The agreement, which was effective January 1, 2007, will now continue through the end of 2018. Under the terms of the agreement, LabCorp will continue to be the national laboratory for UnitedHealthcare and Oxford Health Plans and the exclusive laboratory provider for the HMO benefit plans of PacifiCare of Colorado, PacifiCare of Arizona, Neighborhood Health Partnership in Florida, and Mid Atlantic Medical Services, L.L.C. (MAMSI) in Maryland and Virginia.
“We are very pleased to extend our partnership with UnitedHealthcare as their exclusive national laboratory”
"We are very pleased to extend our partnership with UnitedHealthcare as their exclusive national laboratory," said David P. King, Chairman and Chief Executive Officer of LabCorp. "Through our partnership, we have delivered high quality laboratory services to UnitedHealthcare's customers and lowered their laboratory spend. This extension is an important mutual recognition of the benefits that our strategic partnership has brought to both companies, and demonstrates our renewed commitment to work together to provide the highest quality care at the most reasonable cost."
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