Franklin, Tenn.-based Community Health Systems has entered into a definitive agreement to sell certain ambulatory outreach laboratory assets in 13 states to Labcorp for $195 million in cash.
Under the agreement, Labcorp will acquire certain assets and assume leases related to CHS’ ambulatory outreach laboratory services — including patient service centers and in-office phlebotomy sites. The deal does not include CHS’ inpatient or emergency department labs.
CHS and Labcorp said they are working together to ensure a smooth transition that maintains service continuity for patients, clinicians and hospital partners.
The transaction is expected to close in the fourth quarter, pending the completion of closing conditions and regulatory approvals.
“We are excited about this transaction with Labcorp, which allows us to focus on our core services and improve the overall patient experience, aligning with our unwavering commitment to providing high-quality, accessible healthcare to our communities,” Kevin Stockton, executive vice president, operations and development, said in a July 22 news release. “Labcorp’s scale and investment in technology supports its ability to efficiently deliver outreach laboratory services to patients and healthcare consumers.”
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