Quest Diagnostics is expanding its business line to provide precision medicine diagnostics to aid oncologists in providing optimized cancer treatment and care for patients.
Madison, N.J.-based Quest is using the acquisition of two lab businesses–Med Fusion and Clear Point–in Texas to form the basis for a precision oncology center of excellence. The two labs provide a full range of diagnostic services to physicians and provider networks.
With the acquisitions, Quest will become a preferred provider of advanced oncology diagnostics for The US Oncology Network, which includes Texas Oncology. The US Oncology Network, which is supported by McKesson Specialty Health, a division of McKesson, consists of more than 400 locations across the U.S. and more than 1,400 independent community-based physicians.
Quest aims to form a new precision oncology center of excellence that intends to provide community oncologists with insights on detecting cancer in patients and managing their care.
Quest will provide genomic and pathology testing, tumor sequencing and other advanced diagnostics to select and monitor treatment and predict disease progression.
“Precision medicine is changing the way we treat cancer and giving new hope to people living with the disease, but too often, advanced diagnostics that facilitate the best possible care are out of reach of community oncologists and their patients,” said Steve Rusckowski, chairman, president and CEO, Quest Diagnostics. “By partnering with McKesson Specialty Health and The Network, we will make Quest’s state-of-the-art genomic analysis readily available to community oncologists everywhere.”
The transaction is expected to be completed in the third quarter of calendar year 2017, subject to the satisfaction of customary closing conditions, including obtaining required regulatory approvals. Additional terms were not disclosed.
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