LabCorp reaches deal to acquire labs from New York’s Mount Sinai

Laboratory Corporation of America has reached a deal to acquire several clinical laboratories from Mount Sinai, a major health system in New York City. The deal will add seven testing facilities to the 120 labs that the Burlington, N.C.based diagnostics company already operates in the metropolitan area.

LabCorp will handle clinical pathology testing, while Mount Sinai will manage lab testing in anatomic pathology, molecular pathology and genetics.

Mount Sinai will continue to conduct lab testing for patients at its hospitals and outpatient centers. The clinical outreach laboratory business provides testing services for patients seen in its physicians’ offices, a statement issued by the health system said.

LabCorp’s deal with Mount Sinai is expected to close in the first quarter. LabCorp did not disclose other terms of the deal.