Catholic Health Initiatives, Denver, is buying a 25% stake in a for-profit laboratory services firm owned by fellow Roman Catholic health system, Providence Health & Services Seattle.
CHI buying stake in lab services company
The not-for-profit CHI, which owns 60 hospitals in 20 states, is investing about $37 million in Pathology Associates Medical Laboratories, which describes itself as a full-service medical reference laboratory headquartered in Spokane, Wash., and owned by 24-hospital not-for-profit Providence.
CHI and Providence plan to develop a national network of regional labs based in CHI hospitals, creating one of the country's largest reference laboratories, according to a joint press release from the three corporations. The new labs will conduct testing for CHI-affiliated facilities, as well as other health systems and physicians throughout the country, in line with CHI's strategy for laboratory services.
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