Quest Diagnostics Bought and Sold Labs in October
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... Read More »
NeoGenomics Buys Oncology Lab Genoptix
It’s been two years since NeoGenomics, Inc. (NASDAQ: NEO) announced an acquisition, but now the time clock has been reset. On October 23rd, the cancer-focused genetic testing company made public its purchase of Genoptix, Inc., a privately held clinical oncology laboratory specializing in hematology and solid tumor testing. Genoptix has well-established relationships with community oncology practices, a sales force and pathologists that are experienced in serving oncologists, and customized reports that are considered to be the gold standard among community oncologists. Oncology practices are an important, and under-penetrated, channel for promoting NeoGenomics’ capabilities in... Read More »
RadNet Expands to Long Island Market
RadNet, Inc. (NASDAQ: RDNT), has acquired Medical Arts Radiology, which owns and operates 10 imaging centers in Long Island, New York. This is the second acquisition announced this year, following a string of joint ventures around the country. Medical Arts offers MRI, CT, PET/CT, X-ray, ultrasound, bone density and interventional procedures. The centers are located in Bay Shore, Commack, East Setauket, Huntington, Massapequa, Patchogue, Plainview, Smithtown, Bablyon and Stony Brook. In addition to servicing the existing patient base, the Medical Arts centers will be instrumental in providing diagnostic imaging to the approximately 200,000 patients of Emblem’s AdvantageCare Physicans, for... Read More »
Quest Diagnostics Inks Two Deals in One Week
Quest Diagnostics (NYSE: DGX) had a busy week in late September, announcing two acquisitions. On September 25, Quest announced its purchase of the U.S. laboratory services business of Oxford Immunotec Global plc in Abingdon, UK. The U.S.-based business includes the T-SPOT.TB tuberculosis and the Accutix tick-borne disease testing services in Memphis, Tennessee and Norwood, Massachusetts. As part of the transaction, Oxford Immunotec will sell T-SPOT.TB test kits and related accessories to Quest under the terms of a long-term supply agreement, which would be effective at closing of the acquisition some time in the fourth quarter of 2018. Two days later, Quest went in a different direction... Read More »
Myriad Genetics Acquires Counsyl, a Women’s Health Lab
Myriad Genetics (NASDAQ: MYGN) agreed to pay $375 million to acquire privately held Counsyl, Inc., which operates a high-complexity clinical laboratory dedicated to women’s health. Counsyl’s lab services include carrier and non-invasive prenatal screening, including its Foresight Carrier Screen, Prelude Prenatal Screen, Reliant Cancer Screen, as well as supporting services through Counsyl Complete, a suite of solutions that integrate Counsyl screening into clinical workflows and patients’ lives. Since the company’s founding, Counsyl has championed key advances in screening for women and their families, screening more than 850,000 patients, serving more than 17,000... Read More »Schedule a demo
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