UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

          February 7, 2008           
(Date of earliest event reported)

LABORATORY CORPORATION OF
AMERICA HOLDINGS

(Exact Name of Registrant as Specified in its Charter)

DELAWARE	1-11353	13-3757370
(State or other jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

358 SOUTH MAIN STREET, BURLINGTON, NORTH CAROLINA	27215	336-229-1127
(Address of principal executive offices)	(Zip Code)	(Registrant's telephone number including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 7.01. Regulation FD Disclosure

Summary information of the Company dated February 7, 2008.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Laboratory Corporation of America Holdings (Registrant)
Date: February 7, 2008	By:	/s/Bradford T. Smith
		Bradford T. Smith, Executive Vice President and Secretary

8-K Filed February 7, 2008

1

Introduction

This slide presentation contains forward-looking statements
which are 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 the Company’s financial
results is included in the Company’s Form 10-K for the year
ended December 31, 2006, and subsequent SEC filings.

2

The US Healthcare & Clinical
Laboratory Testing Market

Source:  CMS, Office of the Actuary, G-2, and Company Estimates

Inpatient

Outpatient  &

Outreach

3

The Value of Lab Testing

In the past, lab testing was primarily used to diagnose disease

Now, lab testing now plays an increasingly large role in the
full continuum of healthcare delivery

4

What is LabCorp

Clinical

Pathology

Anatomic

Pathology

Genomics

Esoteric

Testing

5

Our Infrastructure

1600+ conveniently
located PSCs

700 MDs & PhDs

6500+ phlebotomists

Lab

Information

System

2600 couriers

1000 sales reps

7 airplanes

Primary testing labs

Esoteric Labs

STAT Labs

Standardized Platforms

6

Primary LabCorp Testing Locations*

Esoteric Lab Locations

(CET, CMBP, Dianon, Esoterix, NGI, OTS, US Labs, Viromed)

Our Locations

Patient Service Centers*

7

Cancer diagnostics and monitoring

Advanced cardiovascular disease testing

Advancement through acquisitions and licensing

Strategic Focus Areas

Lab data enables better treatment and outcomes

Partner to control high cost leakage

Recognize value of lab services through appropriate pricing

Quality and service driven culture

First-time problem resolution

Continuous enhancements in customer connectivity

Scientific Leadership

Managed Care

Customer Focus

8

Revenue Growth Drivers

Industry
Consolidation

Hospital
Opportunity

Aging
Population

-Increased utilization

for older patients

Disease

Management

-Litholink Model

Companion
Diagnostics

-ARCA

-Warfarin

More Esoteric
Testing

-Cardiovascular Disease

- Cancer

Time

Margin

Potential

LabCorp Assets

Standardized Data

Clinical Trials

Dianon, USLabs, Esoterix,

NGI & Viromed

Industry Forces

Focus on Outcomes and Cost Containment (Medical & Drug)

Increased emphasis on drug efficacy, proper dosage and adverse effects

Advances in science and genomics

Expansion of
Managed Care
partnerships

9

EBITDA Margin Growth Drivers

3.

Further operational

efficiencies

Increase automation in
pre-analytic processes

Logistics / route structure
optimization

Supply chain
management

Improved patient experience and
data capture

Improvement in collections / bad
debt

1.

Increased volumes through fixed-cost infrastructure

2.

Larger number of esoteric tests offered, more
esoteric tests ordered

10

Industry-leading EBITDA margins

Significant free cash flow

Focus on returning value to shareholders

Strategic acquisitions

Organic growth opportunities

Share repurchase

$425.8 Million available as of 12/31/07

Flexibility for future growth opportunities

LabCorp’s Investment and
Performance Fundamentals

11

Revenue CAGR of 8.5% – Diluted EPS CAGR of 18.6%

1.

Excluding the $0.09 per
diluted share impact in 2005
of restructuring and other
special charges, and a non-
recurring investment loss.

2.

Excluding the $0.07 per
diluted share impact in 2006
of restructuring and other
special charges, and the
$0.10 per diluted share
impact in 2006 of adoption
of SFAS 123(R).

3.

Excluding the $0.25 per
diluted share impact in 2007
of restructuring and other
special charges.

Five-Year Revenue
and EPS Trend

12

1.

Includes approximately
$50 million of benefit
from one-time tax
credits recorded in
2003.

2.

Excluding the impact in
2005 of restructuring
and other special
charges and a non-
recurring investment
loss.

3.

Excluding the impact in
2006 and 2007 of
restructuring and other
special charges

4.

As a result of adopting
FASB 123(R) in 2006,
the Company recorded
incremental stock
compensation expense
of $23.3 and $26.7 in
2006 and 2007,
respectively.

Five-Year OCF and
EBIDTA Margin Trend

OCF CAGR of 6% – EBITDA Margin Growth of 210 bps

13

Fourth Quarter Results
(In millions, except per share data)

12/31/2006

12/31/2007

+/(-)

Revenue

898.6

$     

1,005.8

$  

11.9%

EBITDA

(1)

227.7

$     

258.7

$     

13.6%

EBITDA Margin

25.3%

25.7%

40

bp

Diluted EPS

(2)

0.85

$        

1.04

$        

22.4%

14

Full Year Results
(In millions, except per share data)

12/31/2006

12/31/2007

+/(-)

Revenue

3,590.8

$  

4,068.2

$  

13.3%

EBITDA

(1)

935.7

$     

1,071.3

$  

14.5%

EBITDA Margin

26.1%

26.3%

20

bp

Diluted EPS

(2)

3.30

$        

4.18

$        

26.7%

15

2007 Fourth Quarter
Financial Achievements

Diluted EPS of $1.04 ⁽¹⁾

EBITDA margin of 25.7% of net sales⁽²⁾

Operating cash flow of $240.4 million

Increased revenues 11.9% (11.0% volume; 0.9% price)

Repurchased approximately $403.4 million of   
LabCorp stock

16

Diluted EPS of $4.18 ⁽¹⁾

EBITDA margin of 26.3% of net sales ⁽²⁾

Operating cash flow of $709.7 million

Increased revenues 13.3% (12.3% volume; 1.0% price)

Repurchased approximately $924.2 million of
LabCorp stock

2007 Full Year
Financial Achievements

(1)  Excludes the $0.25 per diluted share impact of the restructuring and other special charges recorded in 2007.

(2)  Based on EBITDA of $1,071.3 million, excluding the $50.6 million impact of restructuring and other special charges recorded in 2007

17

Revenue by Payer
2007
(In millions)

Client

$1,081.0 (27%)

Patient

$367.7 (9%)

Managed Care
Capitated

$167.5 (4%)

Medicare & Medicaid

$745.8 (18%)

Managed Care
Fee-for-service

$1,706.2 (42%)

18

Core

$2,671.9 (66%)

Histology (Non-Pap)

$325.1 (8%)

Other Esoteric

$441.6 (11%)

Genomic

$629.6 (15%)

Revenue by Business Area
2007
(In millions)

19

Revenue Mix by
Business Area
(In millions)

30%

31%

34%

35%

34%

66%

65%

66%

69%

70%

20

Revenue by Payer - 2007
(in millions, except PPA)

21

Revenue Mix by
Business Area - 2007
(in millions, except PPA)

22

Financial Guidance - 2008

Excluding the impact of any share repurchase activity
after December 31, 2007, guidance for 2008 is as follows:

$66 million

$60 million

  Net interest of approximately

$120 million to
$140 million

$115 million to
$130 million

  Capital expenditures of approximately

$775 million to
$800 million

$770 million to
$790 million

  Operating cash flow, excluding any
transition payments to UnitedHealthcare,
of approximately

$4.74 and $4.90

$4.73 and $4.88

  Diluted earnings per share of between

25.6% to 26.0%

26.8% to 27.2%

  EBITDA margins of approximately

13.0% to 14.3%

7.0% to 8.0%

  Revenue growth

Post-JV
Transaction

Pre-JV
Transaction

23

Reconciliation of Non-GAAP
Financial Measures
(In millions)

1)EBITDA represents earnings before interest, income taxes, depreciation, amortization, and nonrecurring charges, and
includes the Company’s proportional share of the underlying EBITDA of the income from joint venture partnerships.  The
Company uses EBITDA extensively as an internal management performance measure and believes it is a useful, and
commonly used measure of financial performance in addition to earnings before taxes and other profitability measurements
under generally accepted accounting principles (“GAAP”).  EBITDA is not a measure of financial performance under GAAP. It
should not be considered as an alternative to earnings before income taxes (or any other performance measure under
GAAP) as a measure of performance or to cash flows from operating, investing or financing activities as an indicator of cash
flows or as a measure of liquidity.  The following table reconciles earnings before income taxes, representing the most
comparable measure under GAAP, to EBITDA for the three-month period and year ended December 31, 2007 and 2006:

2007

2006

2007

2006

    Earnings before income taxes

186.9

$

169.8

$   

802.3

$   

720.9

$

    Add (subtract):

Interest expense

18.8

12.4

56.6

47.8

Investment income

(2.1)

(3.3)

(5.4)

(7.7)

Other (income) expense, net

(0.1)

0.9

1.4

2.8

Depreciation

27.4

26.0

106.4

102.2

Amortization

14.3

13.2

54.9

52.2

Restructuring and other special charges

12.3

7.7

50.6

13.4

Joint venture partnerships' depreciation

and amortization

1.2

1.0

4.5

4.1

EBITDA

258.7

$

227.7

$   

1,071.3

$

935.7

$

Three Months

Year Ended

Ended December 31,

December 31,

24

Supplemental Financial
Information

25

26