TriHealth, Cincinnati, OH, signed a letter of intent with St. Elizabeth Healthcare to create a laboratory joint venture that will offer comprehensive, high-value outpatient laboratory services to the Tri-State (Ohio, Indiana, Kentucky) area.
The TriHealth/St. Elizabeth laboratory partnership will bring together TriHealth’s Oak Street outpatient laboratory with St. Elizabeth’s Edgewood site outpatient laboratory to form a single, combined laboratory at St. Elizabeth’s Edgewood facility. Inpatient/hospital laboratories are not part of this new partnership and will be unaffected by this change.
TriHealth’s need to vacate its leased Oak Street facility in 2018 – the current location of its outpatient laboratory – prompted the organization to explore new and innovative ways to organize and deliver outpatient laboratory services during a time of reduced laboratory reimbursements.
“This joint venture with St. Elizabeth Healthcare will result in a premier regional laboratory organization uniquely positioned to become the high-value provider of choice for outpatient laboratory services throughout the region,” said Mark C. Clement, TriHealth president and CEO.
The goal is to have a definitive agreement signed by November and to launch the new partnership by May 1, 2018.