The Clinical outreach laboratory unit and a few related assets of RWJBarnabas Health were purchased by Labcorp (NYSE:LH), according to a report released on Tuesday.
RWJBarnabas Health
RWJBarnabas Health is New Jersey’s largest academic health system. The agreement’s other details weren’t made public.
Physicians and patients at RWJBarnabas will have access to a larger test menu and LH’s network of patient service centers.
LH will provide improved service to rural areas, expanded health plan coverage, and the possibility of lower out-of-pocket lab expenditures for customers covered by an RWJBarnabas Health laboratory.
Through this partnership, doctors at RWJBarnabas Health and their patients will have access to a wider range of test options as well as Labcorp’s large network of patient service locations, which includes Labcorp at Walgreens. Additionally, Labcorp will provide improved service to rural markets, broader health plan coverage, and the possibility of lower out-of-pocket lab expenditures for individuals who have been treated at an RWJBarnabas Health laboratory. Local communities will also offer STAT and same-day testing.
John Doll, senior executive vice president and chief operating officer of RWJBarnabas Health, said, “At RWJBarnabas Health, we take pleasure in establishing and preserving healthy communities by offering high-quality healthcare throughout New Jersey. “By collaborating with Labcorp, we will offer thorough testing services and improve the range of laboratory service options. We are constantly assessing how we might best assist our patients, clinicians, and doctors. This strategic business move will give our community access to a high-performing, efficient outreach network.
As a leading worldwide life sciences corporation, Labcorp offers crucial data to support doctors, hospitals, pharmaceutical firms, researchers, and patients in making informed choices. The company offers insights and speed-up innovations to improve health and quality of life through our unmatched diagnostics and medication development capabilities. We service customers in more than 100 countries with more than 75,000 workers. During FY2021, Labcorp (NYSE:LH) recorded revenue of $16 billion.
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Author Jowi Kwasu 
