New Jersey-based Quest Diagnostics (NYSE: DGX) has announced plans to acquire the remaining interests in Indianapolis-based Mid America Clincal Laboratories. MACL is a joint venture among Quest, Ascension St. Vincent and Community Health Network that includes 50 patient service centers throughout the state.
Quest will become the sole owner of MACL when the deal is complete. The company says it will operate and manage approximately 30 hospital labs for the two health systems in separate professional lab services agreements.
“This transaction delivers on our accelerate growth and operational excellence strategies, which focus on strategically aligned, accretive acquisitions, while bolstering our professional lab services,” said Steve Rusckowski, Quest Diagnostics chairman and president. “Health systems increasingly turn to Quest Diagnostics to optimize their lab strategies. We are pleased to take this step forward to deliver actionable diagnostic insights to more patients and providers in Indiana.”
The organizations expect to complete the transaction in the third quarter. Financial terms were not disclosed.