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CHI Partners With Providence on National Medical Lab
10/27/2009CHI has signed a definitive agreement with Seattle-based Providence Health and Services to assume a 25% equity position in Pathology Associates Medical Laboratoryies(PAML), a full-service medical reference lab owned by Providence– a nonprofit health system with 27 hospitals and more than 35 nonacute care facilities in the western U.S.
Through this partnership, CHI launches its first national business line, a strategic growth strategy investing in CHI’s future and the communities it serves. MBOs will be positioned to better meet the current and future laboratory needs of our medical facilities, affiliated physicians and, most important, our patients. This partnership also provides CHI hospitals with the opportunity to expand laboratory testing volumes and develop new relationships through outreach laboratory joint ventures.
“This is a sound investment in the future of CHI and its health care ministry,” said Kevin Lofton, CHI’s president and CEO. “CHI is joining with a partner whose mission complements ours, and we share faith-based values of compassion and excellence.