Laboratory Corporation of America ® Holdings (LabCorp ®) (NYSE:LH) today announced that Thomas P. Mac Mahon has informed the Board of Directors of his decision to retire from the Board at the conclusion of his current term on May 8, 2013. The Company also announced that Peter M. Neupert has been appointed to its Board of Directors, effective January 1, 2013.
Mr. Mac Mahon has served as Director of LabCorp since 1995. From 1997 until his retirement in 2006, Mr. Mac Mahon also served as President and Chief Executive Officer of the Company. From 2007 to 2009, Mr. Mac Mahon served as non-executive Chairman of the Board. “Tom has contributed immeasurably to LabCorp during his 30-year association with LabCorp and the diagnostic industry,” said David P. King, Chairman and Chief Executive Officer. “On behalf of the Board and the 31,000 employees of LabCorp, I would like to express our deep gratitude for his years of dedicated service."
“We are also delighted that Peter Neupert, one of the world’s top health information technology executives, has accepted our invitation to join the LabCorp Board of Directors, effective January 1, 2013,” said Mr. King. “Peter’s broad experience, ranging from start-ups to the largest global companies, brings an important perspective on the role of IT in delivering knowledge to payors, providers and patients, a critical part of our business strategy.”
Mr. Neupert is an operating partner of Health Evolution Partners; a health only, middle market private equity firm. Prior to joining Health Evolution Partners, Mr. Neupert served as Corporate Vice President of the Microsoft Health Solutions Group from 2005 to 2012 and served as President and Chief Executive Officer of drugstore.com from 1998 to 2001. Mr. Neupert served on the President’s Information Technology Advisory Committee from 2003 to 2005, co-chairing the Health Information Technology subcommittee. He is a Trustee of the Fred Hutchinson Cancer Research Center and was an active member of the Institute of Medicine’s Roundtable on Value and Science-Driven Healthcare. Mr. Neupert received his MBA with high distinction from AmosTuck School of Business, Dartmouth College.