MedTech Dive July 8, 2024
Buying the Canadian laboratory company opens a new front in Quest’s rivalry with Labcorp and marks its third takeover in as many months.
Dive Brief:
- Quest Diagnostics has struck a deal to buy the Canadian laboratory testing business Lifelabs for approximately 1.35 billion Canadian dollars (about $985 million), the company said Wednesday.
- The takeover will give Quest control of a business that employs more than 6,500 people and is expected to generate annual sales of around $710 million. Quest reportedly faced competition from Andlauer Healthcare to acquire Lifelabs.
- Buying the company opens a new front in Quest’s rivalry with Labcorp, which acquired Lifelabs’ main Canadian competitor Dynacare in 2002, and marks its third takeover in as many months. Quest...
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