The Labs, MRI & Dialysis sector saw a surge of deal making in October. The sector is a conglomeration of various healthcare segments, obviously, but clinical laboratories drove the nine announced transactions.
Quest Diagnostics Inc. (NYSE: DGX) announced three of those deals, first with its divestiture of its India-based medical diagnostics business, consisting of 24 diagnostic labs across the sub-continent, including a large specialized diagnostics practice with three reference labs with expertise in oncology, genomics and precision medicine.
The buyer was Strand Life Sciences, a portfolio company of Quadria Capital, a clinical research and diagnostics company that combines bioinformatics with laboratory assays and a vast partner network. Financial terms weren’t disclosed.
Once that deal was announced, Quest followed with two acquisitions of outreach laboratory services in the United States from two not-for-profit hospitals, Flint, Michigan’s Hurley Medical Center (418 beds) and Greenbrae, California-based Marin General Hospital (235 beds). No financial terms were disclosed.