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Quest Diagnostics Completes Acquisition of the Outreach Lab Services Business of University Hospitals

1. Quest Diagnostics acquired University Hospitals' assets, enhancing lab services. 2. This acquisition expands access to Quest's test menu in Ohio. 3. Quest will operate labs in Twinsburg and Pittsburgh for testing. 4. Patients gain improved lab services from a leading health system.

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FAQ

Why Bullish?

The acquisition is expected to increase customer base and service demand for DGX, similar to past acquisitions that boosted revenue.

How important is it?

The acquisition directly impacts DGX's competitive positioning and growth potential in the diagnostic market.

Why Long Term?

The strategic asset acquisition will support sustained growth in Ohio’s healthcare market over time.

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UHSLABLH
Physicians and patients to benefit from access to Quest's industry-leading test menu and broad health plan relationships in Ohio , /PRNewswire/ -- Quest Diagnostics (NYSE: DGX), a leading provider of diagnostic information services, today announced it has completed its previously announced acquisition of select assets of University Hospitals, one of the nation's leading nonprofit health systems and academic medical centers. Financial terms were not disclosed. With the acquisition, Quest broadens access to its industry-leading and innovative test menu, network of convenient patient access sites and broad health plan coverage in Ohio. For University Hospitals' providers and patients using Quest for lab services, Quest's laboratories in Twinsburg, Ohio and Pittsburgh, Pennsylvania will perform the testing. University Hospitals will continue to provide all inpatient and select outpatient testing from its hospital-based labs. About Quest DiagnosticsQuest 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 more than 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. About University Hospitals / Cleveland, OhioFounded in 1866, University Hospitals serves the needs of patients through an integrated network of more than 20 hospitals (including five joint ventures), more than 50 health centers and outpatient facilities, and over 200 physician offices in 16 counties throughout northern Ohio. The system's flagship quaternary care, academic medical center, University Hospitals Cleveland Medical Center, is affiliated with Case Western Reserve University School of Medicine, Northeast Ohio Medical University, Oxford University, Taiwain University and the Technion Israel Institute of Technology. The main campus also includes the UH Rainbow Babies & Children's Hospital, ranked among the top children's hospitals in the nation; UH MacDonald Women's Hospital, Ohio's only hospital for women; and UH Seidman Cancer Center, part of the NCI-designated Case Comprehensive Cancer Center. UH is home to some of the most prestigious clinical and research programs in the nation, with more than 3,000 active clinical trials and research studies underway. UH Cleveland Medical Center is perennially among the highest performers in national ranking surveys, including "America's Best Hospitals" from U.S. News & World Report. UH is also home to 19 Clinical Care Delivery and Research Institutes. UH is one of the largest employers in Northeast Ohio with more than 30,000 employees. Follow UH on LinkedIn, Facebook and Twitter. For more information, visit UHhospitals.org.  SOURCE Quest Diagnostics WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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