20 October 2020 - - US-based life sciences company LabCorp (NYSE: LH) and US Puget Sound region nonprofit healthcare system Swedish have inked an agreement to extend their more than 20-year relationship, the principals said.

LabCorp will continue to provide laboratory services, both onsite and reference, to the Swedish main hospital campuses as well as the Swedish ambulatory network across the region.

The organizations' joint response to the COVID-19 pandemic further illustrates their collaborative efforts to provide quality services to the communities they serve.

The Greater Seattle area saw the nation's first rise in COVID-19 cases and, in early March 2020, as LabCorp became the first commercial laboratory to launch diagnostic PCR testing for the virus, it focused testing in Seattle and other hard-hit areas.

By the end of March, LabCorp began performing COVID-19 testing at its lab in the Swedish Cherry Hill campus, enabling results for high-priority patients within hours and for other patients the same day.

The new agreement between the two groups modernizes the organizations' relationship, providing an innovative framework for both parties to advance quality and cost-effective strategies to provide enhanced laboratory services to Swedish patients.

LabCorp and Swedish will use laboratory utilization data and care pathways to ensure medically appropriate use of testing.

Swedish clinicians and patients will also continue to have access to participate in studies of new therapies through a Clinical Study Site Partnership with Covance Drug Development that has been in place since 2018.

Eight studies are currently underway to evaluate potential new treatments for a range of oncological conditions.

LabCorp has continued to expand its COVID-19 test capacity in the Seattle area to support the response by Swedish and the communities, healthcare providers and patients it serves.

Founded in 1910, Swedish is the largest nonprofit health provider in the Greater Seattle area.

It is comprised of five hospital campuses (First Hill, Cherry Hill, Ballard, Edmonds and Issaquah); ambulatory care centers in Redmond and Mill Creek; and a network of more than 100 primary care and specialty-care clinics located throughout the Greater Puget Sound area.

Swedish is known as a regional referral center, providing specialized treatment in areas such as cardiovascular care, cancer care, neuroscience, orthopedics, high-risk obstetrics, pediatric specialties, organ transplantation and clinical research.

In 2019, Swedish provided USD 228m in community benefit programs, including USD 22m in free and discounted care in Western Washington.

LabCorp (NYSE: LH), an S and P 500 company, is a leading global life sciences company that is deeply integrated in guiding patient care, providing comprehensive clinical laboratory and end-to-end drug development services.

With a mission to improve health and improve lives, LabCorp delivers world-class diagnostics solutions, brings innovative medicines to patients faster, and uses technology to improve the delivery of care. LabCorp reported revenue of more than USD 11.5bn in 2019.