Franklin, Tenn.-based Community Health Systems has completed the sale of select ambulatory outreach laboratory assets to Labcorp for $194 million in cash.
The deal includes certain assets of CHS-affiliated hospitals’ lab services in 13 states, such as patient service centers and in-office phlebotomy locations. CHS will retain and continue operating its inpatient and emergency department laboratories, including lab services for hospital-based care like imaging and pre-admission testing.
“Completing this transaction with Labcorp allows our health systems to focus on core services and improve the overall patient experience, aligning with our unwavering commitment to providing high-quality, accessible healthcare to our communities,” CHS President and Interim CEO Kevin Hammons said in a Dec. 2 news release. “Labcorp’s scale and investment in technology supports its ability to efficiently deliver outreach laboratory services to patients and healthcare consumers.”
Mark Schroeder, president of Labcorp Diagnostics and COO, said the move “expands access to high-quality, innovative laboratory services” for patients and providers across CHS-affiliated facilities and reflects both organizations’ shared goal of improving healthcare in the communities they serve.
The transaction is part of a broader strategy by Labcorp to build strategic relationships with health systems and local labs nationwide to increase access, boost care quality and drive operational efficiencies.
