LabCorp (NYSE: LH), a global leader in innovative and comprehensive laboratory services, today announced the completion of the previously announced transaction that establishes a strategic relationship with Jefferson Health (Jefferson), the largest health system serving the greater Philadelphia and Southern New Jersey region.
"This groundbreaking agreement between Jefferson and Labcorp will better serve providers and patients throughout the greater Philadelphia and southern New Jersey region by increasing access, breadth of testing and affordability, as well as enriching the academic prowess and reach of Jefferson Health," said Bill Haas, senior vice president of Labcorp's Northeast Division. "This transaction further demonstrates our commitment to advancing our laboratory services model with leading academic health systems, and we are looking forward to building upon Jefferson's longstanding track record of delivering comprehensive diagnostic care to its patients."
Through this collaboration, the scope and productivity of Jefferson's current offerings will expand, and healthcare access will be improved for underserved communities in Philadelphia and the surrounding areas. This new relationship will also help standardize laboratory testing across the entire health system, creating consistency and optimizing patient care and safety at all locations. Leveraging Jefferson's pathology and laboratory expertise, the Jefferson laboratory will continue to provide services for all inpatients and outpatients along with select specialty testing, including anatomic pathology, genomics and molecular virology. Additionally, Labcorp and Jefferson will work together to establish the Innovation Driving Excellence in Academics (IDEA) initiative, which will foster innovation and advance testing capabilities and technologies to improve health outcomes.
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