Quest Diagnostics to Acquire Haystack Oncology
Quest Diagnostics and Haystack Oncology announced on April 27 a definitive agreement for Quest to acquire Haystack in an all-cash equity transaction. Quest expects the acquisition to be modestly dilutive to earnings over the next three years and accretive by 2026. The transaction is expected to be completed in the second quarter of 2023, subject to customary regulatory review. J.P. Morgan Securities LLC acted as exclusive financial advisor to Quest, and Weil, Gotshal & Manges LLP acted as Quest’s legal advisor. Goldman Sachs & Co. LLC acted as exclusive financial advisor to Haystack, and Goodwin Proctor LLP acted as Haystack’s legal advisor. Haystack Oncology is an... Read More »
Sonic Healthcare Acquires Medical Laboratories Duesseldorf For $198 Million
Sonic Healthcare, Ltd. announced on April 26 that it made its second acquisition of the month by purchasing Medical Laboratories Duesseldorf (MLD) for approximately $199 million USD (converted from €180 million and AUD$297.6 million). The acquisition is expected to bring in revenues of more than $55.2 million in FY2024. This follows Sonic’s previous acquisition of German diagnostic company Diagnosticum for $209 million, marking the largest purchase price in the Laboratories, MRI and Dialysis sector of the year. Founded in 1968, MLD conducts diagnostics for sexually transmitted infections, gastrointestinal infections and respiratory infections. It employs 300 staff including 13... Read More »
Labcorp Subsidiary Dynacare Acquires Valley Medical Laboratories
Dynacare, a subsidiary of Labcorp, announced its acquisition of Kelowna, Canada-based Valley Medical Laboratories for an undisclosed price, effective April 24, 2023. Dynacare CEO Vito Ciciretto said he’s looking forward to providing a bigger range of health care services to British Columbians. Dr. Jason Doyle, Valley Medical’s medical director, said the two companies have the same culture of service, making the union a natural fit. Valley Medical Laboratories is a series of physician-owned community laboratories that have served the Okanagan Valley since 1969. The firm worked with the British Columbia government to be the first laboratory to provide on-demand HIV testing in the... Read More »
Canada Diagnostic Centres Acquires Women’s Ultrasound Clinic
Canada Diagnostic Centres announced on April 18 the acquisition of Women’s Ultrasound Clinic, a leading women’s ultrasound provider in Ottawa. This strategic acquisition signifies Canada Diagnostic Centres’ entry into Ontario, and simultaneously broadens the scope of its women’s imaging services. Financial terms of the deal were not disclosed. Established by Dr. George Tawagi, Women’s Ultrasound Clinic runs two centers in Ottawa and is run by a group of dedicated doctors, sonographers and support staff. Canada Diagnostic Centres is a leading provider of medical imaging services in Canada. The company has 28 clinics in Alberta, nine clinics in Saskatchewan and... Read More »
Spectral MD Holdings to be Listed on Nasdaq Through Business Combination with Rosecliff Acquisition Corp I SPAC
Spectral MD Holdings, Ltd. announced on April 11 that it has entered into an agreement to combine with Rosecliff Acquisition Corp I, a special purpose acquisition company (SPAC) listed on Nasdaq. The combined company expects to operate under the name Spectral AI and to be listed on Nasdaq under the symbol “MDAI”. The combined company will operate under the same management team, led by Spectral MD founder and CEO Wensheng Fan with current Spectral MD shareholders rolling 100% of their equity into the transaction. Net proceeds of the proposed transaction will be used to accelerate readiness for material potential federal contracts, to enhance Spectral MD’s efforts for broad... Read More »Schedule a demo
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