Labcorp Acquires Clinical Outreach Laboratory Services From RWJBarnabas Health

On August 23, 2022 Labcorp (NYSE: LH), a leading global life sciences company, reported that it has closed its acquisition of RWJBarnabas Health’s outreach laboratory business and select related assets. RWJBarnabas Health is New Jersey’s largest academic health system (Press release, LabCorp, AUG 23, 2022, View Source [SID1234618593]).

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"The communities, physicians and health systems we serve are central to everything we do at Labcorp," said Bill Haas, senior vice president of Labcorp Diagnostic’s Northeast Division. "Our expanded relationship with RWJBH will build on the solid foundation RWJBarnabas Health has developed, and will offer patients and providers enhanced access to high-quality laboratory services, seamless data integration and connectivity and exceptional value to help improve patient care and outcomes."

Through this collaboration, RWJBarnabas Health’s physicians and patients will be able to access an expanded test menu, as well as Labcorp’s extensive network of patient service centers, which includes Labcorp at Walgreens. In addition, for patients who have been served by a RWJBarnabas Health laboratory, Labcorp will offer expanded health plan coverage, enhanced service to rural markets and the potential for reduced out-of-pocket lab costs for patients. Same day and STAT testing will also be available in local communities.

"At RWJBarnabas Health, we take pride in creating and sustaining healthy communities by providing high-quality health care throughout New Jersey," said John Doll, senior executive vice president and chief operations officer of RWJBarnabas Health. "By working alongside Labcorp, we will provide comprehensive testing services and enhance the laboratory service offerings. We are always evaluating how best to serve our patients, clinicians and physicians. This strategic business decision will provide a high-performing, streamlined outreach network to support our community."

Additional terms of the transaction were not disclosed.