Quest Diagnostics Acquires Select Assets of Outreach Lab Services Business of Steward Health Care System

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Jan 08, 2024, 08:56 ET

Transaction to broaden access to innovative, quality diagnostic information services for providers and patients

SECAUCUS, N.J., Jan. 8, 2024 /PRNewswire/ -- Quest Diagnostics (NYSE: DGX), the world's leading provider of diagnostic information services, today announced it has acquired select assets of Steward Health Care System's outreach laboratory services business serving patients and physicians in Pennsylvania and Ohio.

The relationship aims to broaden access to innovative, quality and cost-effective laboratory services. Quest's full-service laboratory in Pittsburgh, PA will provide testing for physicians and patients ‎previously serviced by outreach laboratories operated by Steward Health Care System in parts of ‎Pennsylvania and Ohio. In addition, subject to transfer of the laboratory license, Quest has also acquired certain assets from the laboratory business serving Hawthorn Medical Associates in Dartmouth, MA. Financial details of the transaction were not disclosed.

"This transaction delivers on our strategy to serve the evolving needs of health systems, which increasingly seek to entrust their critical laboratory services to our expertise so they can focus on their core care missions," said Jim Davis, Chairman, CEO and President, Quest Diagnostics. "This acquisition also aligns with our strategy to grow through accretive outreach laboratory acquisitions and expands our ability to serve providers and patients in Ohio and Pennsylvania."

Quest has a long-standing relationship with Steward that includes providing professional lab management services and acquiring select outreach lab assets.

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.

About Steward Health Care
Nearly a decade ago, Steward Health Care System emerged as a different kind of health care company designed to usher in a new era of wellness. One that provides our patients better, more proactive care at a sustainable cost, our providers unrivaled coordination of care, and our communities greater prosperity and stability.

As the country's largest physician-led, minority-owned, integrated health care system, our doctors can be certain that we share their interests and those of their patients. Together we are on a mission to revolutionize the way health care is delivered – creating healthier lives, thriving communities and a better world. Steward is among the nation's largest and most successful accountable care organizations (ACO), with more than 5,500 providers and 43,000 health care professionals who care for 12.3 million patients a year through a closely integrated network of hospitals, multispecialty medical groups, urgent care centers, skilled nursing facilities and behavioral health centers.

Based in Dallas, Steward currently operates 33 hospitals across Arizona, Arkansas, Florida, Louisiana, Massachusetts, Ohio, Pennsylvania, and Texas. Additional information is available at www.steward.org.

About Quest Diagnostics
Quest Diagnostics empowers people to take action to improve health outcomes. Derived from the world's largest database of clinical lab results, our diagnostic insights reveal new avenues to identify and treat disease, inspire healthy behaviors and improve health care management. Quest 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. www.QuestDiagnostics.com.

SOURCE Quest Diagnostics