Sponsored by VMG Health | info@vmghealth.com | 214.369.4888

TriHealth, St. Elizabeth Healthcare to form laboratory joint venture

TriHealth, a five-hospital system in Cincinnati, and Edgewood, Ky.-based St. Elizabeth Healthcare signed a letter of intent in early August to embark on a joint venture outpatient laboratory. 

TriHealth officials said the lease on its outpatient laboratory facility will expire in 2018. After a year-long process, TriHealth settled on St. Elizabeth Healthcare as a potential partner in the joint venture opportunity following the completion of its lease.

Under the partnership, TriHealth's outpatient laboratory operations will merge with St. Elizabeth's facility to form a combined laboratory organization. Inpatient hospital laboratory sites at both hospitals will not be affected by the partnership.

Leaders from both organizations expect to have a definitive agreement in place by the end of November, and expect to fully transition operations at TriHealth's outpatient laboratory to St. Elizabeth's facility by May 1, 2018. All outpatient laboratory services will continue uninterrupted during the transition period.

Once the transition period is complete, employees at TriHealth's laboratory operations will have continued employment opportunities at the combined facility or at one the laboratory facilities operated by either health system.

More articles on transactions and valuations:
14 recent hospital transactions and partnerships
2 Kansas hospitals to examine potential alliance
State OKs Regional Health's purchase of 2 Washington hospitals

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Featured Webinars

Featured Whitepapers