Laboratory Corporation of America Holdings (LabCorp) and the Mount Sinai Health System (Mount Sinai) have entered into a definitive agreement in which LabCorp will acquire assets of Mount Sinai’s Clinical Outreach Laboratories.
Upon the transaction’s completion, which is expected in the first quarter of 2017, LabCorp will be available to provide laboratory services to physicians and patients in Mount Sinai’s outreach laboratory.
LabCorp will offer clinical pathology testing, including cytology and cytology-related molecular testing.
The companies are also exploring opportunities to collaborate on projects involving companion diagnostics, clinical trials, and medical education.
William B. Haas, senior vice president and co-leader of LabCorp Diagnostics, said in a statement: “Only LabCorp can offer access to clinical trials and research through Covance Drug Development, enhanced IT and data analytics, standardized testing platforms and broad patient access.”
LabCorp is not providing any additional comments on this time.