Quest To Buy MemorialCare's Laboratory Outreach Service Business

(RTTNews) - Quest Diagnostics (DGX), a provider of diagnostic information services, on Tuesday said it has agreed to buy MemorialCare Health System's laboratory outreach service business. The financial terms of the deal were not disclosed.

Quest expects the deal to be neutral to earnings in 2015.

Under the agreement, MemorialCare Health System will transition its outreach laboratory testing to Quest's accredited full-service clinical laboratory in West Hills, California. MemorialCare Health System's hospital-based laboratories are not a part of the transaction.

Quest expects to complete the acquisition in August.

Quest said the deal supports its five-point strategy, which includes restoring growth and driving disciplined capital deployment through strategically aligned, accretive acquisitions.