Quest Diagnostics Acquires Property of College Hospitals Outreach Laboratory
Quest Diagnostics has entered right into a definitive settlement to amass sure property of College Hospitals' outreach laboratory companies for an undisclosed sum.
The transaction is anticipated to shut within the fourth quarter of 2024, topic to regulatory approvals.
Based in 1866, College Hospitals is a nonprofit well being care group and educational medical middle headquartered in Cleveland, Ohio.
The group operates an intensive community, together with greater than 20 hospitals, greater than 50 well being facilities, outpatient clinics and greater than 200 doctor practices in 16 counties in northern Ohio.
This acquisition is anticipated to lead to larger entry to Quest Diagnostics' check menu, affected person entry areas and well being plan protection in Ohio.
Jim Davis, chairman, CEO and president of Quest Diagnostics, mentioned, “Main healthcare methods reminiscent of college hospitals are shifting their laboratory companies to Quest to enhance operational efficiencies and guarantee continued entry to reasonably priced care.
“Our specialization and scale allow us to optimize laboratory companies for high quality, innovation and affordability, permitting healthcare methods to focus extra sources on medical affected person care. We sit up for increasing our presence within the many communities throughout Ohio that may profit from our experience.”
College Hospitals CEO Cliff A. Megerian shared an analogous sentiment concerning the significance of laboratory companies, noting, “Laboratory testing is a important and more and more advanced space of healthcare, and Quest is a trusted title in laboratory companies recognized for its prime quality and innovation.”
This transfer follows Quest Diagnostics' settlement to amass sure property of OhioHealth's outreach laboratory companies.
OhioHealth, a nonprofit well being care group, consists of a community of 15 hospitals, three three way partnership hospitals, one managed affiliated hospital and greater than 200 outpatient clinics in a 50-county space.
