Quest Diagnostics to Acquire Select Lab Assets from Allina Health

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Jun 26, 2024, 16:03 ET

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

SOURCE Quest Diagnostics