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Quest Diagnostics Acquiring Lab Assets of Allina Health

NEW YORK – Quest Diagnostics said Wednesday that it will acquire select laboratory assets from Minneapolis-based Allina Health for an undisclosed amount.

Under the terms of the deal, Quest will offer its laboratory services to Allina Health clinic physicians and outreach providers in Minnesota and western Wisconsin.

The transaction is expected to close in Q3 2024. Financial and other terms were not disclosed.

"Our transaction with Allina Health will extend access to Quest's extensive service offerings in Minneapolis and throughout Minnesota and western Wisconsin," Jim Davis, Quest chairman, president, and CEO, said in a statement. "This transaction also reflects progress in delivering on our strategy, which includes generating growth through accretive laboratory acquisitions."

"We are grateful for our Allina Health laboratory team and the foundation of excellence they have established in lab services. Quest is the right partner to build on this strength to ensure providers and patients can continue to access innovative and high-quality laboratory services," Dominica Tallarico, chief operations officer for Allina Health, said in a statement. "This transaction will also allow us to reinvest our nonprofit resources to support our caring mission well into the future."