Following the acquisition, Data Innovations will become a business division of Sunquest and the two companies will work to integrate their clinical laboratory information systems
There’s more change in the clinical laboratory marketplace. Yesterday it was announced that Data Innovations—a major player in medical laboratory middleware systems—had been acquired by Roper Industries, Inc. (NYSE:ROP), the owner of Sunquest Information Systems.
Executives at Roper Industries said that Data Innovations will become a business division of Sunquest. The acquisition is expected to close in February, subject to regulatory approvals. Roper also announced yesterday that it was acquiring SoftWriters, a company that sells software for long-term care pharmacies.
In its press release, Roper said that “the combined purchase price for these two acquisitions is $450 million. …The Company expects the three acquisitions to contribute approximately $100 million of annual revenue and provide over $110 million of gross cash tax benefits.” (more…)
When completed, this acquisition will give Quest Diagnostics a major laboratory presence in the backyard of competitor Laboratory Corporation of America
Another big lab domino fell in the continuing consolidation of the clinical laboratory testing industry. This time it was Solstas Lab Partners, which announced that it would be acquired by Quest Diagnostics Incorporated (NYSE:DGX).
The agreement was announced by both companies earlier this week. Quest Diagnostics will pay $570 million to acquire Solstas, which is based in Greensboro, North Carolina. Solstas provides medical laboratory testing services to clients in nine states across the South. Quest Diagnostics says it expects to close the sale by the middle of this year, subject to the usual regulatory reviews of such transactions. (more…)
By purchasing this laboratory outreach business, Quest Diagnostics defends its turf in central Massachusetts and creates opportunity to consolidate testing from three medical lab facilities
Late yesterday, Quest Diagnostics Incorporated (NYSE: DGX) formally announced that had signed a “definitive agreement today to purchase the clinical laboratory outreach business of UMass Memorial Medical Center.” The laboratory is located in Worcester, Massachusetts and the parties expect the transaction to close within 90 days.
For UMass, the sale of its medical laboratory outreach business comes as part of an ongoing effort by UMass Memorial Health Care (UMMHC)—the parent health system—to divest a number of service lines that were in its health ventures division. This included home health and hospice services, along with the medical lab outreach business. (more…)