Quest Diagnostics To Buy 2 Labs, Grow In Oncology Space
Zacks Investment Research | Jun 13, 2017 08:30AM ET
In order to accelerate growth in the cancer diagnostic segment, Quest Diagnostics (NYSE:DGX) recently announced agreements to acquire two laboratory businesses in Lewisville, Texas, namely Med Fusion and Clear Point. The businesses jointly provide a complete range of diagnostic services to physicians and provider networks.
These deals are aimed at establishing a center of excellence for providing diagnostic services to detect and manage cancer for oncologists and patients all over the country. Baylor Scott & White Health (BSWH), The US Oncology Network or the Network (supported by McKesson (NYSE:MCK) Specialty Health), Texas Oncology and Pathologists Bio-Medical Laboratories (PBM) are co-owners of one or both the businesses.
Post the deal closure, Quest Diagnostics will become a preferred provider of advanced oncology diagnostics for The Network and Texas Oncology. The company will provide genomic and pathology testing solutions for oncologists to select and monitor treatment so that they can predict disease progression appropriately.
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