Posted Jan. 10, 2017 at 9:54 a.m.

LabCorp moves to acquire Mount Sinai clinical labs

Published: 2017-01-10 09:54:13
Updated: 2017-01-10 09:54:13


Laboratory Corporation of America says it will add the outreach laboratories of Mount Sinai Health System to its network of lab services network.

Financial terms of the deal, which was announced Tuesday, were not disclosed. It is expected to close this quarter.

The deal includes seven patient service centers, which will be added to LabCorp’s 120 patient service centers in the metropolitan New York City area.

"The parties are also vigorously exploring opportunities to collaborate on projects involving companion diagnostics, clinical trials and medical education," the firms added.

"Mount Sinai will continue to provide laboratory testing for patients registered at its hospitals and ambulatory facilities as inpatients or outpatients, as well as laboratory testing services for physicians in their professional practices in the areas of anatomic pathology, molecular pathology and genetics," the firms explained. "LabCorp will offer clinical pathology testing, including cytology and cytology-related molecular testing."

LabCorp chairman and CEO David King said the deal provides "us the opportunity to serve an anchor health system in the critical New York metro market, provides us even broader opportunity to improve health and lives through the delivery of world class diagnostics.”

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