Quest buying U.S. lab services unit from British firm

Quest Diagnostics is acquiring the U.S. laboratory services business of England-based Oxford Immunotec Global PLC, the two companies announed Tuesday.

Under a definitive agreement, Secaucus-based Quest will buy the business from Oxford Immunotec, including the T-SPOT TB tuberculosis and Accutix tick disease testing services provided at labs in Tennessee and Massachusetts.

“This acquisition will extend our capabilities in infectious disease diagnostics, consistent with our strategy to accelerate growth by broadening access to diagnostic innovation,” Steve Rusckowski, Quest’s chairman, CEO and president, said in a prepared statement. “It will build on our momentum in tuberculosis services by enabling us to bring greater choice to physicians who seek innovative blood-based TB testing over traditional methods.”

Financial terms of the deal were not disclosed. The companies expect the transaction to be completed in the fourth quarter, pending customary approvals and conditions.