LabCorp to Become a Preferred National Laboratory for Aetna

 Aetna(NYSE: AET) and LabCorp® (NYSE: LH) today extended and expanded their existing agreement, making LabCorp a preferred national laboratory for substantially all of Aetna’s members beginning January 1, 2019. The expanded agreement will provide more than 20 million eligible members with in-network access to LabCorp’s full range of laboratory services. LabCorp is already an in-network laboratory for several million members of Aetna and Aetna-affiliated health plans in certain markets across the U.S.

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“This expanded agreement is the culmination of our years-long effort to return to a full collaborative relationship with Aetna,” said David P. King, chairman and chief executive officer of LabCorp. “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.”

“Consumers are looking for greater convenience and affordability for their health care services,” said Paul McBride, head of National Provider Networks, Strategy and Experience at Aetna. “We are pleased to offer Aetna members greater access to LabCorp’s core and specialty lab services at reasonable costs through its nearly 2,000 patient service centers.”

Aetna plan participants will benefit from LabCorp’s scientific expertise, advanced technology and integrated data to help improve the delivery of care. LabCorp offers nearly 5,000 frequently requested and specialty tests, including a wide range of clinical, anatomic pathology, genetic, and genomic tests, delivered through LabCorp’s broad patient access points, including a growing retail presence. LabCorp also offers an industry-leading suite of patient-facing tools, including its new mobile app that allows customers to make appointments, receive results and pay invoices from their handheld devices. In addition, LabCorp offers physicians and patients the opportunity to participate in clinical studies through its Covance Drug Development business, helping to identify and bring new treatments to market.

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