Labcorp, a global life sciences company, has entered into an agreement with Providence to expand the longstanding strategic laboratory relationship between the two organizations. Through the agreement, Labcorp will acquire Providence Oregon’s outreach laboratory business and select assets in Oregon. Providence Oregon will maintain operation and ownership of certain anatomic pathology and genomics outreach testing and its hospital laboratories in the region.
“Expanding our deep relationship with Providence allows us to create greater healthcare access, bring world-class diagnostic capabilities and ensure affordability of services for patients and providers,” says Rajat Mehta, senior vice president of Labcorp Diagnostic Laboratories West Division. “We’re committed to building on Providence Oregon’s history of exemplary work and extending Labcorp’s presence in the community, helping patients and providers improve health and improve lives.”
This transaction will build on the more than 20-year strategic laboratory relationship between Labcorp and the Providence family of organizations. Labcorp currently provides laboratory services to several Providence affiliate medical facilities and reference testing for facilities across multiple states served by Providence in the western United States.
When the transaction is closed, patients and providers will continue to have access to Providence Oregon facilities and will benefit from Labcorp scientific expertise and testing capabilities. This transaction will expand Labcorp’s commitment to Providence Oregon communities, including their patients, employees and health plan members.