Jefferson Health announced a deal last week to sell some of its clinical laboratory business to Labcorp, one of the nation’s biggest providers of blood tests and other diagnostics.
The nonprofit system’s cash reserves have declined significantly in the last 18 months because of low operating profits andJefferson says its health system and colleges employ 43,000 people around the Philadelphia region. The system has 13 general hospitals, a hospital for neurosciences, and two rehabilitation hospitals. It also owns two orthopedic specialty hospitals as part of joint ventures.
Jefferson last summer sold half its stake in the Delaware Valley Accountable Care Organization, a gain of $25 million, according to its financial statement. The ACO’s buyer was Humana, a national giant that competes locally with Health Partners Plans Inc., a Philadelphia Medicaid and Medicare insurance company that Jefferson owns., a large national home health care business based in Moorestown.
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