BURLINGTON – LabCorp, a global provider of specialty testing, has acquired the clinical ambulatory laboratory business of the Franciscan Missionaries of Our Lady Health System (FMOLHS), strengthening the company’s presence in Louisiana and Mississippi, according to a press release.
LabCorp did not disclose the financial terms of the deal.
FMOLHS is one of Louisiana and Mississippi’s largest health care systems, serving nearly half of Louisiana residents, and its well-established history in the region was an impetus for the deal, LabCorp said in Thursday’s announcement.
“LabCorp is excited to expand our geographic presence and to provide world-class laboratory services to clinicians and patients across Louisiana and in Mississippi,” Chris Bosler, the senior vice president of LabCorp Diagnostics’ Southeast Division, said in the release.
“We look forward to building a deep and strong collaboration with FMOLHS, especially at this time when laboratory testing is more important than ever,” Bosler added.
LabCorp will provide specialty testing services and will continue to provide ambulatory laboratory services to the clients of FMOLHS.
“We are pleased to partner with LabCorp to continue to provide superior laboratory services, further developing the strong clinical foundation our health system has built,” FMOLHS CEO Richard R. Vath, M.D. said in a statement.
LabCorp shares (LH) shares were last trading up 4.57 percent, or $8.03, at $183.75.
The release is available here.
This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism