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LabCorp completes acquisition of Mount Sinai clinical outreach laboratories

Burlington, N.C.-based Laboratory Corporation of America Holdings completed its acquisition of New York City-based Mount Sinai Health System's clinical outreach laboratories.

Under the agreement, LabCorp will provide comprehensive laboratory services to physicians and patients who previously relied on the health system's outreach laboratories. Mount Sinai will continue to provide laboratory testing for patients registered at the health system's hospital and ambulatory facilities, as well as for physicians specializing in anatomic pathology, molecular pathology and genetics.

The organizations entered into definitive agreement in January. The financial terms of the transaction were not disclosed.

"This transaction demonstrates LabCorp's commitment to strategic health system partnerships with anchor health systems," said David King, chairman and CEO of LabCorp. "Our differentiated solutions offer a range of services not available from any other company, and we continue to explore opportunities to further collaborate with Mount Sinai on projects involving companion diagnostics, clinical trials … and the increased use of analytics to enhance effective delivery of patient care."

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