BURLINGTON – Global life sciences giant LabCorp has extended its partnerships with two large industry players in healthcare: Aetna and UnitedHealthcare.
David King, chair and CEO of the Burlington-based company, hailed both agreements.
About the Aetna deal, King noted: “This expanded agreement is the culmination of our years-long effort to return to a full collaborative relationship with Aetna,. We and Aetna share a commitment to making high-quality, high-value laboratory testing more accessible, improving the way care is delivered and enhancing the customer experience in all aspects of laboratory services. We are excited about the opportunity this agreement presents and look forward to working more broadly with Aetna and its members to enable better health outcomes.”
Regarding UnitedHealthcare, King added:
“At the heart of our partnership has been a commitment to collaborative innovation for the benefit of patients, consistent with LabCorp’s mission of improving health and improving lives. We are pleased with the agreement to extend and expand our long-standing partnership with UnitedHealthcare, and with the terms of the agreement. This relationship exemplifies our strategic alignment with UnitedHealthcare and our commitment to maximizing the value we deliver to patients, care providers and shareholders.”
Financial terms of the deals were not disclosed.
The Aetna-LabCorp deal involves an extension and expansion of the current agreement between the companies that makes LabCorp a “preferred” provider for most of Aetna’s membership beginning in 2019.
Aetna sells traditional and consumer directed health care insurance plans and related services,
LabCorp will remain the “exclusive” national lab services provider for United Healthcare up to Jan. 1, 2019.
