Labcorp today announced an agreement with Tufts Medicine, a leading integrated academic health system in Massachusetts, for Labcorp to acquire the Tufts Medicine outreach laboratory business and select operating assets as a first step toward a larger strategic partnership.
Through this new partnership, patients and providers of Tufts Medicine will have improved access to testing, reduced wait-times for patients, and standardized laboratory testing throughout the Tufts Medicine system. The arrangement will provide patients and clinicians access to Labcorp's scientific expertise and advanced diagnostics in areas such as oncology, neurology and women's health.
This partnership aims to build upon Tufts Medicine's high quality laboratory services. When complete, the transaction will combine important services, skills and technologies from both organizations to further the delivery of high-quality patient care by leveraging Labcorp's leading clinical laboratory services, robust data and digital tools, and national network of patient service centers.
This relationship follows other strategic collaborations that Labcorp has established with a range of local, regional and national health systems that have enhanced services for patients and providers.
The outreach acquisition is expected to be finalized in October 2023, and is subject to customary closing conditions and applicable regulatory approvals. Additional terms of the transactions were not disclosed.
