Springfield, Mass.-based Baystate Health sold its laboratory assets for an undisclosed amount to Labcorp.
Additionally, Labcorp will build a regional laboratory at Baystate's Holyoke, Mass.-based facility, according to an Oct. 4 Baystate news release. The transaction is expected to close in early 2024.
In August, nearby Boston-based Tufts Medicine also sold its laboratory assets to Labcorp.
"For many years, Labcorp has served as our trusted primary reference testing provider, and we are confident they will continue to deliver high-quality outcomes, affordable access, and optimal service for our patients and providers," Sam Skura, senior vice president of hospital operations at Baystate Health, said in the news release.