NEW YORK – Quest Diagnostics said on Tuesday that it has acquired substantially all of the assets of LabTech Diagnostics.
Headquartered in Anderson, South Carolina, LabTech provides clinical laboratory services mainly in South Carolina, North Carolina, Georgia, and Florida, broadening Quest's outreach to more communities in the South.
Quest added that the deal will also allow more physicians in South Carolina to access diagnostic services directly from Quest through its Cleveland HeartLab cardiometabolic center of excellence and other labs in Atlanta; Tampa, Florida; and Greensboro, North Carolina.
LabTech will become the first full-service lab owned by Quest in South Carolina.
Financial and other terms of the deal were not disclosed.
"Establishing a laboratory in South Carolina will enable us to provide diagnostic insights empowering affordable care to more patients and providers while building on our growth aims in the region," Steve Rusckowski, chairman, CEO, and president of Quest, said in a statement.
After a slowdown in merger and acquisition activity among labs due to the COVID-19 pandemic, Quest and others recently signaled they would be pursuing acquisitions again, and the deal is the second by Quest since the summer when it acquired National Laboratory Services.