Quest Diagnostics Completes Acquisition of Select Lab Assets from Allina Health

Rhea-AI Summary

Quest Diagnostics (NYSE: DGX) has completed its acquisition of select laboratory assets from Allina Health. This strategic move aims to enhance access to high-quality and affordable laboratory services for providers and patients in Minnesota and western Wisconsin. The acquisition aligns with Quest's mission to empower health systems and hospitals by improving diagnostic laboratory services, enhancing patient experience, and reducing costs. While the financial details were not disclosed, this transaction is expected to strengthen Quest's position in the diagnostic information services market and expand its reach in the Midwest region.

Positive

• Expansion of Quest's market presence in Minnesota and western Wisconsin
• Potential for improved access to high-quality laboratory services in the region
• Opportunity to enhance operational efficiency and reduce costs for healthcare providers

Negative

• None.

SECAUCUS, N.J., Sept. 16, 2024 /PRNewswire/ -- Quest Diagnostics (NYSE: DGX), a leader in diagnostic information services, today announced that it has completed its previously announced acquisition of select laboratory assets from Allina Health.

The goal of the transaction is to improve access to high quality and affordable laboratory services for providers and patients in Minnesota and western Wisconsin. Financial details of the transaction were not disclosed.

Quest provides a complete portfolio of services to empower health systems and hospitals to improve the quality, innovation and insights of their diagnostic laboratory services, elevate the patient experience and lower costs for more accessible and affordable care. For more information, visit: Hospitals & health systems | Quest Diagnostics.

About Allina Health
Allina Health is dedicated to the prevention and treatment of illness and enhancing the greater health of individuals, families and communities throughout Minnesota and western Wisconsin. A nonprofit health care system, Allina Health cares for patients from beginning to end-of-life through its 90+ clinics, 12 hospital campuses, 14 retail pharmacies, and many specialty care centers and specialty medical services, home care, and emergency medical transportation services. Learn more at allinahealth.org and join us on Facebook, Twitter and Instagram.

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 deidentified 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.

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SOURCE Quest Diagnostics

FAQ

What assets did Quest Diagnostics (DGX) acquire from Allina Health?

Quest Diagnostics acquired select laboratory assets from Allina Health. The specific details of the assets were not disclosed in the press release.

What regions will benefit from Quest Diagnostics' (DGX) acquisition of Allina Health assets?

The acquisition aims to improve access to laboratory services for providers and patients in Minnesota and western Wisconsin.

When did Quest Diagnostics (DGX) complete the acquisition of Allina Health assets?

Quest Diagnostics completed the acquisition on September 16, 2024, as announced in the press release.

What is the goal of Quest Diagnostics' (DGX) acquisition of Allina Health assets?

The goal is to improve access to high-quality and affordable laboratory services for providers and patients in the targeted regions.