Quest To Buy Outreach Lab Services Business Of Summa Health For Undisclosed Terms
(RTTNews) - Quest Diagnostics (DGX), a provider of diagnostic information services, and Summa Health, a large integrated healthcare delivery system in Ohio, announced Wednesday a definitive agreement for Quest to acquire select assets of Summa Health's outreach laboratory services business, referred to as LabCare Plus, in an all-cash transaction.
The aim of the transaction is to broaden access to innovative, quality and cost-effective laboratory services powering affordable care for communities in Ohio.
Under the agreement, Quest's laboratories in Twinsburg, Ohio, and Pittsburgh will provide testing for physicians and patients serviced by LabCare Plus.
Summa Health will continue to wholly own and operate its hospital labs providing laboratory services for inpatient and hospital-based outpatient care, along with its anatomic pathology services.
Summa Health selected Quest Diagnostics following a competitive bid. The parties expect to complete the transaction in the fourth quarter of 2022, subject to customary regulatory approvals. Financial details of the transaction were not disclosed.
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