Labcorp is partnering with Greenville, S.C.-based Prisma Health, the state's largest health system.
With the agreement, Labcorp is acquiring some of Prisma Health's outreach lab assets, Labcorp said March 9. The health system's patients will gain expanded access to lab testing. Labcorp will also provide technical support for Prisma's hospital laboratories.
Labcorp said it will also offer expanded health plan coverage and more access to rural markets.
"Labcorp brings the scale and expertise of its internationally recognized laboratory services to help us achieve the next level of service and quality in this highly specialized area," said Clarence Sevillian, executive vice president and COO of Prisma Health. "We pride ourselves on providing the best possible experiences for our patients and providers. This relationship is another way we are building on our strong reputation of quality care and compassionate service, helping people in communities across South Carolina live their healthiest lives."
The transactions are expected to close in the second half of 2022. Financial terms were not disclosed.