NEW YORK – Laboratory Corporation of America said on Tuesday it has completed the acquisition of the diagnostic clinical laboratory testing business of South Bend Medical Foundation (SBMF).
Following the acquisition, LabCorp will operate SBMF's former clinical lab in South Bend, Indiana, and the two parties will collaborate to provide integrated pathology services. Patients also will have access to LabCorp's testing through patient service centers including six former SBMF centers and four recently opened LabCorp at Walgreens locations.
SBMF will continue to provide pathology and blood banking services to area hospitals and physicians.
"This transaction will allow SBMF to focus on our core business of pathology and blood banking services," SBMF President Joyce Simpson said in a statement. "I am confident that our customers and patients will benefit from the enhanced clinical laboratory services that LabCorp can offer, and I look forward to working closely with LabCorp in a new pathology partnership as SBMF expands its professional services."
Financial and other terms of the acquisition were not disclosed.