Quest Diagnostics acquires Blueprint Genetics in all-cash deal

By Emily Bader
Secaucus | Jan 22, 2020 at 11:59 am

Secaucus-based Quest Diagnostics, a provider of diagnostic information services, announced on Wednesday it has acquired Finnish genetic testing company Blueprint Genetics in an all-cash deal. Financial terms were not disclosed.

The deal is anticipated to broaden access to actionable insights in genetic and rare disease, and improve on patient care and pharmaceutical drug research and development.

“The great challenge with genetic testing is generating quality, actionable and broadly accessible insights from vast quantities of sequenced genetic data,” Steve Rusckowski, chairman, CEO and president, Quest Diagnostics, said. “Blueprint Genetics has developed a proven model for delivering highly specialized genetic insights that we believe we can scale to serve new patient populations with unmet clinical needs. The addition of Blueprint Genetics strengthens and extends the Quest value proposition in genetics, delivering on our Accelerate growth strategy and vision of a healthier world.”

Blueprint Genetics, which was founded in 2012, provides 3,900 targeted single gene and over 200 panel tests spanning 14 medical specialties. Through its hub facility in Seattle, Washington, it will operate largely independent from its base laboratory in Helsinki, Finland.

“As the leader in advanced diagnostics, Quest Diagnostics understands that robust bioinformatics and consultative expertise are essential to fast, accurate and cost-efficient data interpretation,” Carrie Eglinton Manner, senior vice president, advanced diagnostics, Quest Diagnostics, said. “Blueprint Genetics brings to Quest a proven platform in specialty genetics — especially gene variant interpretation and reporting — that powerfully differentiates our Advanced Diagnostics offering.”

Tommi Lehtonen will lead the company as vice president and general manager, reporting to Eglinton Manner.

“Teaming up with Quest will allow us to extend our capabilities in the United States as well as in Canada and other countries where we already have strong and growing client relationships. While we considered joining forces with several organizations, Quest’s genetics leadership, national infrastructure and strong cultural fit made it the perfect partner from which to extend our reach to new providers and patients,” Lehtonen said.