Labcorp acquires Prisma Health assets

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Prisma Health has struck up a partnership with North Carolina-based Labcorp to apply the life science company’s technical expertise in hospital laboratories.

In the exchange, Labcorp will acquire select assets of Prisma Health’s outreach lab operations, slated for the second half of 2022, according to a news release.

“Prisma Health is an established leader in providing health care and diagnostic services to South Carolina residents, and its dedication to its patients closely aligns with Labcorp’s mission to improve health and improve lives,” Traci Butler, senior vice president of Labcorp Diagnostics’ Atlantic Division, said in the news release. “This relationship builds on Labcorp’s strong track record of providing the critical information that patients and providers need to make the best possible health decisions. It also underscores our commitment and dedication to the people who call the Carolinas home.”

The new relationship will expand Prisma Health patients’ access to laboratory testing throughout South Carolina and offer individualized, dedicated support to physician practices, modeled after Labcorp’s partnerships with other health care systems, according to the release. 

“Labcorp brings the scale and expertise of its internationally recognized laboratory services to help us achieve the next level of service and quality in this highly specialized area,” Clarence Sevillian, executive vice president and chief operating officer of Prisma Health, said in the release. “We pride ourselves on providing the best possible experiences for our patients and providers. This relationship is another way we are building on our strong reputation of quality care and compassionate service, helping people in communities across South Carolina live their healthiest lives.”

Once the transactions are complete, Prisma Health patients and clinicians will have access to a spectrum of services through Labcorp’s lab test menu, along with its national network of patient service centers.

 Labcorp will also offer expanded health plan coverage, additional access to rural markets and the potential for reduced out-of-pocket lab costs for patients, according to the release. Additionally, Labcorp will collaborate with Prisma Health to provide same-day STAT testing in local communities.

Specific terms of the transactions were not disclosed.