logo
Plus   Neg
Share
Email

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
CVS Health Corp. is hiring 15,000 employees across the U.S. in the fourth quarter to better equip them to tackle the anticipated rise in COVID-19 and flu incidences during the fall and winter months. This is in addition to the recruitment announced in March to fill 50,000 new full-time, part-time and temporary roles across the country in support of the company's response to the pandemic. Ireland's Data Protection Commissioner or DPC, the European Union's main data privacy regulator, is investigating Facebook over its handling of millions of children's personal data on Instagram, reports said. The agency has started two separate inquiries regarding information that email addresses and phone numbers of users under 18 were made public by the Facebook-owned app. ConocoPhillips (COP) and Concho Resources (CXO) announced Monday that they have entered into a definitive agreement to combine companies in an all-stock transaction valued at $9.7 billion. The transaction creates a company with an approximately $60 billion enterprise value and a combined resource...
Follow RTT