Quest Diagnostics and NewYork-Presbyterian Complete Laboratory Services Acquisition

Rhea-AI Summary

On April 17, 2023, Quest Diagnostics (NYSE:DGX) announced the successful completion of its acquisition of select assets from the laboratory services business of NewYork-Presbyterian. Financial details of the transaction were not disclosed. This collaboration aims to enhance the quality and affordability of diagnostic testing for providers and patients by leveraging the strengths of both organizations. The partnership will provide patients access to nearly 100 patient service centers operated by Quest in New York City, improving healthcare accessibility. Quest Diagnostics continues to empower healthcare improvements through its extensive portfolio, helping to lower costs and enhance patient experiences.

Positive

• Expansion of service offerings through acquisition of laboratory services from NewYork-Presbyterian.
• Increased access for patients via Quest's nearly 100 patient service centers in New York City.
• Enhanced quality and affordability of diagnostic testing by combining resources of both organizations.

Negative

• None.

SECAUCUS, N.J., April 17, 2023 /PRNewswire/ -- Quest Diagnostics (NYSE:DGX), the nation's leading provider of diagnostic information services, and NewYork-Presbyterian, one of the nation's largest and most comprehensive academic medical centers, today announced that Quest has completed its previously announced acquisition of select assets of the laboratory services business of NewYork-Presbyterian. Financial details of the transaction were not disclosed.

The goal of the collaboration is to enable providers and patients to access high quality, affordable testing from a service menu that combines the complementary strengths of both organizations. In addition, patients will benefit from access to Quest's network of nearly 100 patient service centers in the five boroughs.

Quest provides a complete portfolio of services to empower health systems and hospitals to improve the quality, innovation and insights of their diagnostic laboratory services, elevate the patient experience and lower costs for more accessible—and affordable—care. For more information, visit Hospitals & Health Systems | Quest Diagnostics.

About Quest Diagnostics
Quest Diagnostics empowers people to take action to improve health outcomes. Derived from the world's largest database of clinical lab results, our diagnostic insights reveal new avenues to identify and treat disease, inspire healthy behaviors and improve health care management. Quest annually serves one in three adult Americans and half the physicians and hospitals in the United States, and our approximately 50,000 employees understand that, in the right hands and with the right context, our diagnostic insights can inspire actions that transform lives. www.QuestDiagnostics.com.

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SOURCE Quest Diagnostics

FAQ

What was the purpose of Quest Diagnostics' acquisition of NewYork-Presbyterian's laboratory services?

The acquisition aims to improve the quality and affordability of diagnostic testing by leveraging the complementary strengths of both Quest Diagnostics and NewYork-Presbyterian.

What are the expected benefits for patients from the acquisition by Quest Diagnostics?

Patients will benefit from greater access to high-quality diagnostic testing through Quest Diagnostics' network of nearly 100 patient service centers in New York City.

Did Quest Diagnostics disclose financial details of the acquisition?

No, financial details of the acquisition were not disclosed in the press release.

When was the acquisition of NewYork-Presbyterian's laboratory services completed?

The acquisition was completed on April 17, 2023.