NEW YORK — Laboratory Corporation of America announced on Tuesday it has closed its acquisition of New Jersey-based RWJBarnabas Health's outreach laboratory business and select related assets.
The deal builds on an ongoing collaboration between Labcorp and RWJBarnabas and provides the health system's physicians and patients an expanded assay menu and expanded access to Labcorp's patient service center network, which includes Labcorp operations at Walgreens stores. Patients in some communities will also gain access to rapid testing options.
"In addition, for patients who have been served by a RWJBarnabas Health laboratory, Labcorp will offer expanded health plan coverage, enhanced service to rural markets, and the potential for reduced out-of-pocket lab costs for patients," the companies said in a statement.
Financial and other terms of the agreement were not disclosed.
RWJBarnabas Health is New Jersey's largest academic healthcare system, with 9,000 physicians and more than 38,000 total employees.