Aug. 2, 2019—South Bend Medical Foundation announced it will sell its diagnostic clinical laboratory testing assets to LabCorp. SBMF will reinvest the proceeds from the sale into the organization to further enhance and modernize facilities and procedures, ensure the ability to fund retiree pensions, and focus on its core business of pathology and blood banking services.
“South Bend Medical Foundation remains committed to serving our community and clients through our core business of pathology and blood banking services,” Joyce Simpson, MD, SBMF president, said in a press release. “And LabCorp, as one of the largest and most respected comprehensive laboratory services companies in the world, is ideal for this collaboration to ensure clients and patients continue to receive the highest quality services and care.”
SBMF’s outpatient clinical laboratory services are offered throughout the South Bend region, including Mishawaka, Goshen, and Elkhart. SBMF also provides pathology and reference laboratory services in Indiana, Michigan, Ohio, and Illinois. The transaction is expected to close in the third quarter of 2019.