In the first significant clinical laboratory acquisition of 2012, Quest Diagnostics Incorporated (NYSE: DGX) acquired S.E.D. Medical Laboratories of Albuquerque, New Mexico, from Lovelace Health System. The transaction was announced on January 3, 2012, and the sale was completed just days later, on January 7.
Along with acquiring a 50,000 square foot lab facility in Albuquerque, Quest Diagnostics picks up nine patient service centers (PSCs) in Albuquerque and Rio Rancho, plus six additional PSCs throughout the state. S.E.D. Medical Labs employees 450 people and performs about 7.5 million tests per year.
Quest Diagnostics Will Manage Four Inpatient Clinical Laboratories
One interesting aspect to the sale is the fact that Quest Diagnostics will manage the inpatient laboratories at four hospitals owned by Lovelace Health System. It will also provide medical laboratory testing services to members of the Lovelace Health Plan. (more…)