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Quest Diagnostics to Acquire PathAI Diagnostics to Accelerate AI and Digital Pathology Adoption

May 01, 2024•over 1 year ago

Acquiring Company

Quest Diagnostics

Acquired Company

PathAI, Inc.

SecaucusBostonHealth CareInformation TechnologyHealth DiagnosticsMachine LearningArtificial IntelligenceBiotechnologyHealth Care

Description

Quest Diagnostics, a leader in diagnostic information services, has announced a multi-faceted collaboration with PathAI to accelerate the adoption of digital and AI pathology innovations, with the acquisition of select assets of PathAI Diagnostics. This collaboration aims to improve the quality, speed, and efficiency in diagnosing cancer and other diseases, leveraging Quest's oncology expertise and scale with PathAI's AI and digital pathology innovations.

Company Information

Company

Quest Diagnostics

Location

500 Plaza Drive

Secaucus, New Jersey, United States

About

Quest Diagnostics empowers people to take action to improve health outcomes. Derived from the world's largest database of clinical lab results, our diagnostic insights reveal new avenues to identify and treat disease, inspire healthy behaviors and improve healthcare management. Quest annually serves one in three adult Americans and half the physicians and hospitals in the United States, and our 50,000 employees understand that, in the right hands and with the right context, our diagnostic insights can inspire actions that transform lives. www.QuestDiagnostics.com SOURCE Quest Diagnostics

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed