Labcorp and Legacy Health Finalize Comprehensive Laboratory Relationship

Rhea-AI Summary

Labcorp (NYSE: LH) expands its diagnostic capabilities and services through the completion of a transaction with Legacy Health, acquiring select assets of Legacy's outreach laboratory business and managing Legacy's inpatient hospital laboratories. This move aims to benefit communities in Oregon and Southwest Washington by providing more direct and convenient access to Labcorp's industry-leading laboratory services and diagnostic testing.

Agreement Expands Access to Labcorp's Diagnostics Capabilities and Services

BURLINGTON, N.C., Nov. 20, 2023 /PRNewswire/ -- Labcorp (NYSE: LH), a global leader of innovative and comprehensive laboratory services, announced today the completion of the previously announced transaction with Legacy Health to acquire select assets of Legacy's outreach laboratory business. Labcorp also now manages Legacy's inpatient hospital laboratories through a long-term agreement to provide staffing, leadership, scientific knowledge, analytics, supply chain services and laboratory support. 

"This milestone will benefit communities in Oregon and Southwest Washington by expanding access to Labcorp's industry-leading laboratory services and diagnostic testing," said Rajat Mehta, Senior Vice President of Labcorp's West Division. "The closing of this deal reinforces Labcorp's commitment to providing access to high-quality testing throughout the region by building on Legacy Health's longstanding history of serving communities."

Legacy is a six-hospital health system with a full-service children's hospital, a 24-hour behavioral health center, and more than 80 primary care, specialty and urgent care clinics. Legacy provides comprehensive healthcare services across its communities in Portland, Southwest Washington and Oregon's mid-Willamette Valley.

Upon completion of full integration, healthcare providers and patients throughout the region will have more direct and convenient access to Labcorp's full range of laboratory services. Legacy continues to maintain ownership and licensure of its hospital laboratories.

"The providers and patients Legacy serves will benefit from Labcorp's innovative diagnostic capabilities and comprehensive laboratory services," said Kecia Kelly, Senior Vice President and Chief Nursing Officer. "Partnering with Labcorp furthers our mission of good health for all."

About Labcorp
Labcorp (NYSE: LH) is a global leader of innovative and comprehensive laboratory services that helps doctors, hospitals, pharmaceutical companies, researchers and patients make clear and confident decisions. We provide insights and advance science to improve health and improve lives through our unparalleled diagnostics and drug development laboratory capabilities. The company's more than 60,000 employees serve clients in over 100 countries, worked on over 80% of the new drugs approved by the FDA in 2022 and performed more than 600 million tests for patients around the world. Learn more about us at www.labcorp.com.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/labcorp-and-legacy-health-finalize-comprehensive-laboratory-relationship-301993413.html

SOURCE Labcorp

What assets did Labcorp acquire from Legacy Health?

Labcorp acquired select assets of Legacy's outreach laboratory business and now manages Legacy's inpatient hospital laboratories.

Where will the expanded access to Labcorp's services benefit?

The expanded access will benefit communities in Oregon and Southwest Washington.

Who will benefit from Labcorp's innovative diagnostic capabilities and comprehensive laboratory services?

Healthcare providers and patients served by Legacy Health will benefit from Labcorp's services.