Labcorp enters into strategic agreement with Legacy Health

Labcorp has entered into an agreement with Legacy Health to acquire select assets of its outreach laboratory business, including laboratory facilities and equipment. Labcorp will also manage Legacy’s inpatient hospital laboratories through a long-term agreement to provide staffing, leadership, scientific knowledge, analytics, supply chain services and laboratory support. Legacy will maintain ownership and licensure of its hospital laboratories as well as retain ownership of its central lab building at Holladay Park in Northeast Portland. Legacy is a six-hospital health system located in Oregon that includes a full-service children’s hospital, a 24-hour mental and behavioral health services center and more than 70 primary care, specialty and urgent care clinics. The transaction is anticipated to close later in 2023 and is subject to customary closing conditions and applicable regulatory approvals.