Labcorp Finalizes Acquisition of Select Outreach Services From Ballad Health
Acquisition aims to enhance access to comprehensive, high-quality laboratory services for communities in the Appalachian region
JOHNSON CITY, Tenn. and BURLINGTON, NC, (Dec. 11, 2024) – Labcorp, a global leader of innovative and comprehensive laboratory services, announces it has finalized its acquisition of select outreach laboratory services from Ballad Health. The sale of these lab services, combined with Ballad Health’s ongoing strategic relationship with Labcorp, aims to enhance patient care, expand access to advanced testing and improve efficiency for the health system and its patients.
Ballad Health will continue to operate its inpatient and emergency department laboratory, as well as lab services for hospital-based practices.
“Through this acquisition we are bringing expanded access to industry-leading laboratory services and diagnostic testing to patients and providers in the Appalachian region,” said Serena Guzman, Senior Vice President of Labcorp’s Atlantic Division. “We look forward to continuing to work with Ballad Health to deliver high-quality laboratory and healthcare services while enhancing the patient and provider experience.”
Key benefits of this acquisition include:
- Enhanced access to efficient, high-quality laboratory services for patients and employers
- Expanded access to Labcorp’s comprehensive testing menu
- Implementation of advanced digital tools for improved patient experience
- Access to Labcorp’s broad network of patient service centers
The organizations have been working together to implement a smooth transition focused on maintaining continuity of services for patients, hospitals, clinicians and clients, while providing direct access to the additional capabilities of Labcorp.
This acquisition follows other strategic agreements and relationships that Labcorp has established with a range of local and regional health systems that have enhanced services for patients and providers.
About Labcorp
Labcorp (NYSE: LH) is a global leader of innovative and comprehensive laboratory services that helps doctors, hospitals, pharmaceutical companies, researchers and patients make clear and confident decisions. We provide insights and advance science to improve health and improve lives through our unparalleled diagnostics and drug development laboratory capabilities. The company's more than 67,000 employees serve clients in approximately 100 countries, provided support for 84% of the new drugs and therapeutic products approved in 2023 by the FDA and performed more than 600 million tests for patients around the world. Learn more about us at www.labcorp.com
Media: Kimbrel Arculeo, [email protected]; Investors: Christin O'Donnell, [email protected]