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Quest Pursues Acquisition of Cape Cod Outreach Lab

NEW YORK (360Dx) – Quest Diagnostics today announced it has signed a nonbinding letter of intent to acquire the outreach laboratory services business of Cape Cod Healthcare, which provides healthcare services to residents and visitors of Cape Cod, Massachusetts.

The terms of the deal, which are subject to completion of a definitive agreement, were not disclosed.

If completed, the deal would enhance access to quality, affordable, and convenient laboratory services, Quest said, adding that the outreach testing of Cape Cod Healthcare would be transitioned to Quest's full-service clinical lab in Marlborough, Massachusetts.

Cape Cod Healthcare's hospital-based laboratories and the inpatient and outpatient services provided by the labs are not part of the deal.

Quest said that benefits resulting from the deal to patients and physicians would include greater patient access and convenience through access to Cape Cod Healthcare's patient service center network, as well as access to Quest's comprehensive menu of clinical laboratory tests. The two partners also intend to explore potential collaborations in population health and data analytics, among other areas, Quest said.

"With Quest as our partner, we will not only maintain quality and continuity of services, but we will also lower costs," Cape Cod Healthcare CEO Michael Lauf said in a statement. "I am confident that they are a partner that will be flexible and responsive, something that is critically important in the rapidly chaning and innovative field of diagnostic testing."

The announcement follows on the heels of Quest's planned buy of oncology labs Med Fusion and Clear Point. On Monday, Quest also announced a deal to bring laboratory testing to 15 Walmart stores.