Quest Diagnostics Completes Acquisition of Outreach Lab Services Business of Summa Health

Rhea-AI Summary

Quest Diagnostics (NYSE: DGX) has completed its acquisition of LabCare Plus, the outreach laboratory services business of Summa Health. This acquisition enables Quest to enhance access to its extensive test menu and health plan relationships in Northeastern Ohio. Patients and physicians will benefit from improved diagnostic services and lower out-of-pocket costs. Testing will be provided by Quest’s laboratories in Twinsburg, Ohio, and Pittsburgh, Pennsylvania, serving areas previously serviced by LabCare Plus.

Positive

• Enhanced access to diagnostic services in Northeastern Ohio.
• Broad health plan coverage leading to lower costs for patients.
• Integration of LabCare Plus assets into Quest's extensive test menu.

Negative

• None.

Physicians and patients to benefit from access to Quest's industry-leading test menu and broad health plan relationships in Northeastern Ohio

SECAUCUS, N.J. and AKRON, Ohio, Nov. 28, 2022 /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 LabCare Plus, the outreach laboratory services business of Summa Health, a large integrated health system. Additional financial terms were not disclosed.

With the acquisition, Quest broadens access to diagnostic innovation and insights empowering better health for more communities in Northeastern Ohio. Physicians and patients will 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 laboratories in Twinsburg, Ohio and Pittsburgh, Pennsylvania will provide testing for physicians and patients previously served by LabCare Plus.

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 nearly 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/quest-diagnostics-completes-acquisition-of-outreach-lab-services-business-of-summa-health-301687883.html

SOURCE Quest Diagnostics

FAQ

What is the significance of Quest Diagnostics' acquisition of LabCare Plus?

The acquisition allows Quest Diagnostics to expand its services and offer better access to diagnostic testing in Northeastern Ohio.

How will patients benefit from the acquisition by Quest Diagnostics?

Patients will gain access to a wider range of diagnostic tests and potentially lower out-of-pocket costs.

When was the acquisition of LabCare Plus completed?

The acquisition was completed on November 28, 2022.

What will happen to the LabCare Plus facilities after the acquisition?

Quest's laboratories in Twinsburg, Ohio, and Pittsburgh, Pennsylvania will take over testing for patients previously served by LabCare Plus.

What is Quest Diagnostics' stock symbol?

The stock symbol for Quest Diagnostics is DGX.