Under the agreement, Quest's laboratories in Twinsburg, Ohio, and Pittsburgh will provide testing for physicians and patients serviced by LabCare Plus. The aim of the transaction is to broaden access to innovative, quality and cost-effective laboratory services powering affordable care for communities in Ohio. 5, 2022 /PRNewswire/ - Quest Diagnostics DGX, the world's leading provider of diagnostic information services, and Summa Health, a large integrated healthcare delivery system in Ohio, today announced 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. Financial details of the transaction were not disclosed.Transaction to broaden access to innovative, quality diagnostic information services powering affordable care in Ohio The parties expect to complete the transaction in the fourth quarter of 2022, subject to customary regulatory approvals. Summa Health selected Quest Diagnostics following a competitive bid. "We look forward to extending our reach to more communities in Ohio as we strive to build a healthier world." By helping top health systems like Summa Health optimize their lab strategies, Quest empowers better health and affordable care for more patients," said Steve Rusckowski, Quest Diagnostics Chairman, CEO and President. "Diagnostics provide the insights to deliver healthcare that is both high quality and high value. "With this relationship, patients and providers in Ohio will benefit from access to advanced laboratory capabilities supporting better health outcomes." As the nation's leader, Quest has the expertise, agility and breadth of innovation to deliver the enhanced capabilities that physicians and patients increasingly expect," said Ben Sutton, Chief Strategy Officer and President of Ambulatory Care and Clinical Service Lines for Summa Health. "Laboratory services are a critical and fast-evolving area of healthcare. 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.Īssuming the transaction's completion, physicians and patients throughout Ohio will benefit from access to Quest's industry-leading and highly innovative test menu, broad health plan coverage, network of patient access sites throughout the state, and lower out-of-pocket costs for many services. Quest Diagnostics (NYSE: DGX), the world's leading provider of diagnostic information services, and Summa Health, a large integrated healthcare delivery system in Ohio, today announced 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. Claim your 1-week free trial to StreetInsider Premium here. News and research before you hear about it on CNBC and others.
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