Quest Diagnostics on Wednesday said it will acquire select assets of Cleveland-based University Hospitals‘ outreach laboratory services business.
The financial terms of the transaction, to be closed in the fourth quarter, were not disclosed.
University Hospitals is one of the nation’s leading nonprofit health systems and academic medical centers. The deal with Quest will broaden access in Ohio to the Secaucus-based firm’s innovative test menu, network of convenient patient access sites and broad health plan coverage.
“Top health systems like University Hospitals are transitioning their laboratory services to Quest in order to improve operating efficiency and ensure continued access to affordable care,” Jim Davis, chairman, CEO and president, Quest Diagnostics, said. “Our specialization and scale empower us to optimize lab services for quality, innovation and affordability, enabling health systems to dedicate more resources to clinical patient care. We look forward to extending our presence in the many communities in Ohio that can benefit from our expertise.”
