COVID-19 Triggers a Cash Flow Crash at Clinical Labs Totaling US $5.2 Billion in Past Seven Weeks; Many Labs Are at Brink of Financial Collapse

Limited availability of COVID-19 clinical lab tests is major topic at federal briefings and news stories, yet many of nation’s labs are laying off staff and at point of closing Cash flow at the nation’s clinical laboratories has crashed, with revenues down by more than $5 billion since early March. This is the biggest financial disaster for the nation’s clinical laboratory industry in its 100-year history and it couldn’t come at a worse time for the American public and the US healthcare...

Quest Diagnostics to Acquire Clinical Laboratory Outreach Business of UMass Memorial Medical Center

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...
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