Labcorp Forges Strategic Partnership with Tufts Medicine, Will Acquire Outreach Laboratory Business
Labcorp Expands Diagnostic Testing and Laboratory Services in
Labcorp and Tufts Medicine have entered into an agreement forLabcorp to acquire the Tufts Medicine Outreach Laboratory Business and select operating assets- This transaction – an initial component of an envisioned larger strategic partnership – will expand patient specimen collection access in the locations and diverse communities Tufts Medicine proudly serves and will support its inpatient laboratories and academic mission
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
"Tufts Medicine is an established leader in providing diagnostic testing and healthcare in eastern
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
"Tufts Medicine's long history of outstanding and innovative patient care will combine with
This relationship follows other strategic collaborations that
The outreach acquisition is expected to be finalized in
About
About Tufts Medicine
Tufts Medicine is a leading integrated health system bringing together the best of academic and community healthcare to deliver exceptional, connected and accessible care experiences to consumers across
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements, including but not limited to statements with respect to the acquisition of the Tufts Medicine outreach laboratory business, the anticipated benefits of the transaction for providers and patients, and the expected timing to closing.
Each of the forward-looking statements is subject to change based on various important factors, many of which are beyond the company's control. These factors, in some cases, have affected and in the future (together with other factors) could affect the company's ability to implement the company's business strategy and actual results could differ materially from those suggested by these forward-looking statements. As a result, readers are cautioned not to place undue reliance on any of the forward-looking statements.
The company has no obligation to provide any updates to these forward-looking statements even if its expectations change. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. Further information on potential factors, risks and uncertainties that could affect operating and financial results is included in the company's most recent Annual Report on Form 10-K and subsequent Forms 10-Q, including in each case under the heading RISK FACTORS, and in the company's other filings with the
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SOURCE
Media (Labcorp): Kimbrel Arculeo, 336-436-8263, [email protected], Media (Tufts Medicine): Jeremy Lechan, 508-333-4852, [email protected], Investors: Christin O'Donnell, 336-436-5076, [email protected]