Praia Health Secures Strategic Investment from Labcorp Venture Fund, Announces New Collaboration to Streamline Patient Lab Ordering Experience

Collaboration to leverage Praia Health’s technology and Labcorp’s comprehensive testing capabilities to streamline and personalize patient experience

CHICAGO & BURLINGTON, N.C.--(BUSINESS WIRE)-- Praia Health, the consumer experience orchestration platform for health systems, is pleased to announce it has secured a strategic investment from the Labcorp Venture Fund and will collaborate with Labcorp, a global leader of innovative and comprehensive laboratory services, to streamline and personalize the patient experience for lab orders and testing within select health systems.

“Our collaboration with Labcorp represents a significant step forward in delivering personalized and seamless healthcare experiences,” said Justin Dearborn, CEO at Praia Health. “We are thrilled to work together to bring these benefits to patients nationwide.”

Praia Health’s platform identifies patients with lab orders and provides tailored notifications and cards within a health system’s mobile application or logged-in web experience. Patients can easily schedule lab tests ordered by their physicians and find the closest appropriate Labcorp facility, ensuring their specific testing and lab requirements are met, including service availability, operating hours and staffing.

“This collaboration aligns with our commitment to provide physicians and patients with expanded access to high-quality, comprehensive and convenient lab services,” said Bryan Vaughn, Labcorp’s SVP, Health and Hospital Systems and Mid-America Division. “We look forward to what the future holds as we leverage Praia Health’s innovative technology to enhance the patient experience.”

The collaboration will initially launch at Providence, one of the nation’s largest and most innovative health systems, at their Puget Sound location.

“By simplifying the process for lab orders and testing, we are making healthcare more accessible and convenient for our patients. This initiative represents a significant advancement in enhancing the overall patient experience,” said Andy Chu, Providence’s SVP of Product and Technology Incubation.

Labcorp and Praia Health anticipate expanding access to other hospitals and health systems across the country. To learn more about these capabilities, contact Praia Health at Contact (praiahealth.com) or Labcorp at https://insights.labcorp.com/HealthSystemsContactUs.

About Praia Health

Incubated at Providence, one of the nation’s largest and most innovative health systems, Praia Health™ is an experience orchestration platform for health systems that is revolutionizing the delivery of individualized health solutions at scale. In April 2024, Praia announced the closing of a $20 million oversubscribed Series A financing round led by Frist Cressey Ventures and backed by SignalFire, Epsilon Health Investors, Providence Ventures and Labcorp. For more information about Praia Health, visit praiahealth.com and follow them on LinkedIn.

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 67,000 employees serve clients in approximately 100 countries, provided support for 84% of the new drugs and therapeutic products approved in 2023 by the FDA and performed more than 600 million tests for patients around the world. Learn more about us at www.labcorp.com.

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Media Contact:

Jared Johnson, Chief Marketing Officer, Praia Health

jared@praiahealth.com

972-561-0025

Source: Praia Health