Quest Acquisition Will Bring New Lab To Marlborough
New Jersey-based Quest Diagnostics announced it has acquired ConVerge Diagnostic Services, LLC, which operates full-services medical laboratories throughout New England. This is the fourth purchase for Quest this year and its second in Massachusetts.
Quest said ConVerge, which has patient service centers in Massachusetts, New Hampshire and Connecticut, including a laboratory in Peabody, will operate as a wholly-owned subsidiary. The ConVerge lab is expected to be integrated into a state-of-the-art laboratory facility Quest is building at a former Hewlett-Packard facility in Marlborough, according to Quest. The terms of the deal have not been disclosed.
“The addition of ConVerge to the Quest family will extend the range of diagnostic information services patients and providers can access in the region while also combining the considerable medical leadership of both companies to spur new innovations that improve patient outcomes,” Quest CEO Steve Rusckowski said in a statement.
Quest completed the acquisition of UMass Memorial Medical Center’s clinical outreach laboratory business in February, and said it would move UMass operations, as well as those of its Athena Diagnostics business in Worcester, to the new Marlborough site within two years.
The slew of acquisitions follows an announcement during a November 2012 conference with investors that Quest would refocus its strategy on core diagnostic information services while simplifying the organization. Since late last year, Quest said it has sold three of its businesses, generating $800 million in gross proceeds.
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