MEDTOX Announces Record Date and Meeting Date for Special Meeting of Stockholders in Connection With LabCorp Merger Agreement
June 28 2012 - 9:00AM
MEDTOX Scientific, Inc. (Nasdaq:MTOX), announced in its definitive
proxy statement on Schedule 14A that it has established a record
date and a meeting date for a special meeting of its stockholders
to consider and vote upon a proposal to adopt the previously
announced merger agreement, dated as of June 3, 2012, providing for
the acquisition of MEDTOX by Laboratory Corporation of America
Holdings, or LabCorp, and other related matters.
MEDTOX stockholders of record at the close of business on
Wednesday, June 27, 2012, will be entitled to notice of the special
meeting and to vote at the special meeting. The special meeting
will be held on Tuesday, July 31, 2012, at 8 a.m., central time, at
the Company's headquarters, 402 West County Road D, St. Paul,
Minnesota.
About MEDTOX®
MEDTOX® Scientific, Inc., headquartered in St. Paul, Minn.,
is a provider of high quality specialized laboratory testing
services and on-site/point-of-collection testing (POCT) devices.
The Company also supports customers with complete logistics, data
and program management services. MEDTOX is a leader in providing
esoteric laboratory testing services to hospitals and laboratories
nationwide. This includes both central laboratory and
bio-analytical testing for pharmaceutical clinical trials. MEDTOX
develops and manufactures diagnostic devices for quick and
economical on-site/point-of-collection analysis for drugs-of-abuse
and therapeutic drugs, and provides employment drug screening and
occupational health testing. For more information see
www.medtox.com.
About LabCorp®
Laboratory Corporation of America® Holdings, an S&P 500
company, is a pioneer in commercializing new diagnostic
technologies and the first in its industry to embrace genomic
testing. With annual revenues of $5.5 billion in 2011, over
31,000 employees worldwide, and more than 220,000 clients, LabCorp
offers more than 4,000 tests ranging from routine blood analyses to
reproductive genetics to companion diagnostics. LabCorp
furthers its scientific expertise and innovative clinical testing
technology through its LabCorp Specialty Testing Group: The
Center for Molecular Biology and Pathology, National Genetics
Institute, ViroMed Laboratories, Inc., The Center for Esoteric
Testing, Litholink Corporation, Integrated Genetics, Integrated
Oncology, DIANON Systems, Inc., Monogram Biosciences, Inc.,
Colorado Coagulation, and Endocrine Sciences. LabCorp conducts
clinical trials testing through its LabCorp Clinical Trials
division. LabCorp clients include physicians, government
agencies, managed care organizations, hospitals, clinical labs, and
pharmaceutical companies. To learn more about LabCorp, visit
www.labcorp.com.
Forward Looking Statements
Investors are cautioned that statements in this press release
that are not strictly historical statements, constitute
forward-looking statements. These statements are based on
current expectations, forecasts and assumptions of MEDTOX that are
subject to risks and uncertainties that could cause actual outcomes
and results to differ materially from those statements. These
risks and uncertainties include, among others, the risk that MEDTOX
stockholder or regulatory approval may not be obtained; the
transaction may not close within the expected timeframe or at all;
the transaction may not achieve the anticipated strategic benefits;
customers, suppliers, employees or strategic partners may have
adverse reactions to the proposed transaction; and the integration
of MEDTOX into LabCorp's business subsequent to the closing of the
transaction may not be successful; as well as other factors
detailed in MEDTOX's and LabCorp's filings with the SEC, including
MEDTOX'S Annual Report on Form 10-K for the year ended December 31,
2011, and subsequent SEC filings, and LabCorp's Annual Report on
Form 10-K for the year ended December 31, 2011, and subsequent SEC
filings.
Additional Information and Where to Find It
On June 27, 2012, MEDTOX filed with the SEC a definitive proxy
statement in connection with the proposed transaction with LabCorp.
The definitive proxy statement will be sent or given to the MEDTOX
stockholders of record. The definitive proxy statement contains
important information about the proposed transaction and related
matters. SECURITY HOLDERS ARE URGED TO READ THE DEFINITIVE PROXY
STATEMENT CAREFULLY. The definitive proxy statement and other
relevant materials, and any other documents filed by MEDTOX with
the SEC, may be obtained free of charge at the SEC's website at
www.sec.gov. In addition, these documents can also be obtained by
investors and stockholders free of charge from MEDTOX upon written
request to MEDTOX Scientific, Inc., Attention: Investor Relations,
402 West County Road D., St. Paul, MN 55112.
Interests of Participants
MEDTOX and its directors and executive officers may be deemed to
be participants in the solicitation of proxies from MEDTOX
stockholders in connection with the proposed transaction.
Information about MEDTOX's directors and executive officers is set
forth in its proxy statement for its 2012 Annual Meeting of
Stockholders, which was filed with the SEC on April 2, 2012, and
its Annual Report on Form 10-K for the year ended December 31,
2011, which was filed on March 8, 2012. These documents are
available free of charge at the SEC's website at www.sec.gov, and
by mail at MEDTOX Scientific, Inc, Attn: Investor Relations,
402 West County Road D, St. Paul, MN 55112, or by going to the
Company's Investors page on its corporate website at
www.medtox.com. Additional information regarding the interests of
participants in the solicitation of proxies in connection with the
transaction will be included in the definitive proxy statement that
MEDTOX has filed with the SEC.
CONTACT: Janine Rivera (877) 715-7236
Medtox Scientific, Inc. (MM) (NASDAQ:MTOX)
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