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Quest Diagnostics To Acquire Outreach Lab Services Business Of Summa Health

Oct 05, 2022•about 3 years ago

Acquiring Company

Quest Diagnostics

Acquired Company

Summa Health

SecaucusHealth CareHealth CareMedicalNon Profit

Description

Quest Diagnostics (NYSE: DGX), the world's leading provider of diagnostic information services, and Summa Health, a large integrated healthcare delivery system in Ohio, today announced a definitive agreement for Quest to acquire select assets of Summa Health's outreach laboratory services business, referred to as LabCare Plus, in an all-cash transaction.

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