NEW YORK – Laboratory Corporation of America said on Thursday that it was acquiring the clinical ambulatory laboratory business of Franciscan Missionaries of Our Lady Health System.
LabCorp also entered into a comprehensive laboratory services relationship with the Baton Rouge, La.-based healthcare system, which provides services to patients in Louisiana and Mississippi, for LabCorp to provide reference testing for all the system's facilities and clinics.
"LabCorp is excited to expand our geographic presence and to provide world-class laboratory services to clinicians and patients across Louisiana and in Mississippi," Chris Bosler, senior vice president for LabCorp Diagnostics' Southeast Division, said in a statement. "We deeply appreciate FMOLHS' long-standing, 100-year history of providing high-quality care to patients in the communities it serves, and we look forward to building a deep and strong collaboration with FMOLHS, especially at this time when laboratory testing is more important than ever."
"We are pleased to partner with LabCorp to continue to provide superior laboratory services, further developing the strong clinical foundation our health system has built," said Richard Vath, CEO of Franciscan Missionaries of Our Lady Health System. "We are always evaluating how to deliver the best and safest care to the communities we serve and after a thorough analysis we know this relationship with LabCorp will mean greater convenience, expanded services, and reduced costs."
Financial and other terms of the agreement were not disclosed.
This story first appeared in our sister publication 360Dx, which provides in-depth coverage of in vitro diagnostics and the clinical lab market.