Burlington-based life sciences company LabCorp (NYSE:LH) expanded its reach in the Midwest this week with its acquisition of South Bend Medical Foundation, based in northern Indiana.
Meanwhile, a new partnership with a primary care association and a medical technology firm also grows the corporation’s patient data capabilities in the Northeast.
Via the acquisition and through its existing partnership with Walgreens Pharmacy, LabCorp will now “considerably enhance” its ability to serve patients needs in Indiana, Michigan, Ohio and Illinois.
South Bend Medical Foundation, a 107-year-old non-profit, offers pathology and blood banking services to hospitals and doctors through its multiple locations across the region.
LabCorp will now operate SBMF’s clinical laboratory in South Bend, Indiana, and the two companies will collaborate to provide enhanced pathology services.
“This year, LabCorp is celebrating five decades of providing innovative, customer-focused clinical laboratory services as part of our mission to improve health and improve lives,” said Amy Rhine-Pallas, senior vice president of LabCorp Diagnostics’ North Central Division.
“I am proud and excited that we will begin our next 50 years by expanding our presence in South Bend and the surrounding markets and establishing a collaboration with the highly regarded pathologists and staff at SBMF.”
LabCorp will enhance SBMF’s technical capabilities and offer greater access to testing for customers, while the newly-acquired company will focus more intently on its core business –– pathology and blood banking.
The three-partner agreement will establish an information exchange and database of patient information leading to the improved delivery of care to New Jersey’s underrepresented and underserved communities.
By combining lab and clinical data in one platform, a comprehensive view will allow providers to more quickly identify at-risk patients and improve care management.
“A more holistic view of our patient population will drive operational performance and improve costs, patient outcomes, quality reporting, and care coordination,” said Jillian Hudspeth, President and CEO at the New Jersey Primary Care Association. “Longer term, it will help our Community Health Centers establish the infrastructure to advance value-based care.”
This article was originally published on Biz Journals at https://www.bizjournals.com/triad/news/2019/10/22/labcorp-extends-reach-in-midwest-northeast.html.