Quest Diagnostics Completes Acquisition of Northern Light Laboratory in Maine

Rhea-AI Summary

Quest Diagnostics (NYSE: DGX) has successfully completed its acquisition of select assets from Northern Light Laboratory, part of Northern Light Health in Maine. This acquisition aims to enhance access to innovative diagnostic services for physicians and patients across the state. Quest's advanced laboratory will be the primary provider of clinical testing services previously handled by Northern Light. Furthermore, Quest will manage laboratory services for nine hospitals and a cancer center within the Northern Light system. Financial details of the transaction remain undisclosed, but it is expected to improve patient care and lower costs.

Positive

• Expansion of Quest's service offerings in Maine.
• Enhanced access to a comprehensive test menu for patients and healthcare providers.
• Lower out-of-pocket costs for diagnostic services.
• Management of nine hospital labs and a cancer center, increasing operational efficiency.

Negative

• None.

SECAUCUS, N.J., March 20, 2023 /PRNewswire/ -- Quest Diagnostics (NYSE: DGX), the nation's leading provider of diagnostic information services, today announced it has completed its previously announced acquisition of select assets of Northern Light Laboratory, the outreach laboratory services business of Northern Light Health, a large integrated healthcare system in Maine.

The collaboration between the two parties is expected to enable physicians and patients throughout Maine to benefit from access to Quest's industry-leading and highly innovative test menu, network of patient access sites throughout the state, broad health plan coverage, and lower out-of-pocket costs for many services. Quest's state-of-the-art laboratory in Marlborough, Mass. will provide the majority of advanced and routine clinical testing services for physicians and patients previously served by Northern Light Laboratory.

In addition, Quest now provides professional laboratory management services for nine of Northern Light Health's hospital laboratories, along with its cancer center laboratory at Northern Light Cancer Care in Brewer, Maine. Financial details of the transaction were not disclosed.

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 acquisition did Quest Diagnostics complete on March 20, 2023?

Quest Diagnostics completed the acquisition of select assets from Northern Light Laboratory, part of Northern Light Health in Maine.

How will the acquisition of Northern Light Laboratory impact patients in Maine?

The acquisition will provide patients with access to Quest's innovative test menu, improved patient access sites, and potentially lower costs for services.

Which services will Quest Diagnostics provide following its acquisition of Northern Light Laboratory?

Quest will offer advanced and routine clinical testing services and manage laboratory services for nine hospitals and a cancer center.

What are the expected benefits of Quest's acquisition of Northern Light Laboratory?

The acquisition is expected to enhance patient care, improve accessibility to diagnostics, and lower healthcare costs.