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Quest Diagnostics To Acquire Laboratory Services Business Of BBPL - Quick Facts

Quest Diagnostics Inc. (DGX), a provider of diagnostic information services, said Tuesday that it agreed to acquire the assets of the clinical laboratory services business of Boyce and Bynum Pathology Laboratories or BBPL, a provider of diagnostic and clinical laboratory services in the Midwest. Financial terms of the transaction were not disclosed.

BBPL's anatomic pathology division, Boyce and Bynum Pathology Professional Services, Inc. or BBPPS, and long-term care division are not part of the transaction, Quest said.

Quest noted that through a separate professional services agreement, BBPPS will become the exclusive pathology provider for Quest Diagnostics' clients in Missouri and a preferred pathology provider in the greater Midwestern region.

The professional services agreement will go into effect at the time the acquisition is completed, which is expected in the first quarter of 2019.

According to Quest, the relationship between BBPL and the company will result in a broader menu of clinical laboratory and anatomic pathology services throughout the region. The relationship will also give patients access to an expanded network of service centers across the Midwest, for greater convenience.

"This relationship will extend our ability to provide the most innovative, cost-efficient services to patients and providers in the nation's heartland, deepening our presence in the region. It is consistent with our accelerate growth strategy, which includes delivering one to two percent in annual revenue through strategically aligned accretive acquisitions," said Steve Rusckowski, Chairman, President and CEO of Quest Diagnostics.

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