LabCorp to acquire Mount Sinai’s outreach labs
Jan. 30, 2017—Laboratory Corporation of America and the Mount Sinai Health System have entered into a definitive agreement for LabCorp to acquire assets of Mount Sinai’s clinical outreach laboratories. When the transaction is complete, LabCorp will be available to provide comprehensive laboratory services to physicians and patients that currently use Mount Sinai’s outreach laboratory.
Mount Sinai will continue to provide laboratory testing for patients registered at its hospitals and ambulatory facilities as inpatients or outpatients, as well as laboratory testing services for physicians in their professional practices in the areas of anatomic pathology, molecular pathology, and genetics. LabCorp will offer clinical pathology testing, including cytology and cytology-related molecular testing. Seven patient service centers operated by Mount Sinai will be added to LabCorp’s existing network of 120 patient service centers in the metropolitan New York City area. The parties are also exploring opportunities to collaborate on projects involving companion diagnostics, clinical trials, and medical education.
“LabCorp was selected for its depth and breadth of services and track record of high quality,” Carlos Cordon-Cardo, MD, PhD, Irene Heinz Given and John LaPorte Given professor and chairman, Department of Pathology, Mount Sinai Health System, said in a company statement. “Their unparalleled reputation and success ensures our patients will continue to have access to high-quality, high-value, and convenient testing services.”
The transaction is expected to close in the first quarter of this year. Other terms of the transaction were not disclosed.