Transaction to broaden access to Quest's
innovative and cost-effective services for providers and patients
in Minnesota and western
Wisconsin
SECAUCUS, N.J. and MINNEAPOLIS, June 26,
2024 /PRNewswire/ -- Quest Diagnostics (NYSE: DGX), a
leading provider of diagnostic information services, and Allina
Health, a leading, non-profit health care system, today announced a
definitive agreement for Quest to acquire select laboratory assets
from Allina Health, with the goal to improve access to and the
affordability of innovative laboratory services across Minnesota and western Wisconsin.
"We are grateful for our Allina Health laboratory team and the
foundation of excellence they have established in lab services.
Quest is the right partner to build on this strength to ensure
providers and patients can continue to access innovative and
high-quality laboratory services," said Dominica Tallarico, Chief Operations Officer for
Allina Health. "This transaction will also allow us to reinvest our
non-profit resources to support our caring mission well into the
future."
"Our transaction with Allina Health will extend access to
Quest's extensive service offerings in Minneapolis and throughout Minnesota and western Wisconsin," said Jim
Davis, Chairman, CEO and President, Quest Diagnostics.
"Quest and Allina Health share a lot in common, including a
commitment to helping a range of communities benefit from quality
and innovative laboratory services that people can afford. This
transaction also reflects progress in delivering on our strategy,
which includes generating growth through accretive laboratory
acquisitions."
Under the terms of the definitive agreement, Quest will offer
its laboratory services to Allina Health clinic physicians and
outreach provider clients across Minnesota and western Wisconsin. Quest Diagnostics and Allina Health
expect to complete the transaction in the third quarter of 2024,
assuming customary regulatory reviews. Financial details were not
disclosed.
About Quest Diagnostics
Quest Diagnostics works across the healthcare ecosystem to
create a healthier world, one life at a time. We provide diagnostic
insights from the results of our laboratory testing to empower
people, physicians and organizations to take action to improve
health outcomes. Derived from one of the world's largest databases
of de-identifiable clinical lab results, Quest's diagnostic
insights reveal new avenues to identify and treat disease, inspire
healthy behaviors and improve healthcare management. Quest
Diagnostics 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 and
create a healthier world. www.QuestDiagnostics.com.
For more information about Allina Health visit:
allinahealth.org
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SOURCE Quest Diagnostics