FOR IMMEDIATE RELEASE
Wendy Bost (Media): 973-520-2800
Shawn Bevec (Investors): 973-520-2900
Quest Diagnostics Completes Acquisition of Med Fusion and Clear Point in Texas, Forming National Precision Oncology Center of Excellence
MADISON, NJ — July 18, 2017 — Quest Diagnostics (NYSE: DGX) today announced that it has completed its previously announced acquisition of the laboratory businesses Med Fusion and Clear Point. Operating from a nearly 200,000 square foot facility in Lewisville, Texas, the two businesses form the basis for the company’s first national center of excellence in precision diagnostics for oncology.
In connection with the transaction, Quest is now a preferred provider to several organizations that are formerly owners of one or both of these businesses. These organizations include Baylor Scott & White Health (BSWH), The US Oncology Network (The Network), Texas Oncology, and Pathologists Bio-Medical Laboratories. Specifically, Quest will provide services on a preferred basis to 12 hospitals of BSWH in North Texas and 1,400 independent, community-based physicians nationally that are affiliated with The Network, including Texas Oncology. The Network is supported by McKesson Specialty Health, a division of McKesson Corporation.
In addition, Quest Diagnostics will collaborate with McKesson Specialty Health, The Network and Texas Oncology to enhance and nationally scale a model created by Med Fusion that standardizes next-generation gene sequencing panels to aid therapy selection and monitoring for cancer. This approach guides the physician, within an electronic health record, to a panel individualized according to guidelines to the patient’s cancer type and stage of disease.
For patients with cancer, precision diagnostics, such as genomic sequencing of a tumor’s DNA, may help a physician select a therapy or clinical trial and monitor response.
About Quest Diagnostics
Quest Diagnostics empowers people to take action to improve health outcomes. Derived from the world’s largest database of clinical lab results, our diagnostic insights reveal new avenues to identify and treat disease, inspire healthy behaviors and improve health care management. Quest annually serves one in three adult Americans and half the physicians and hospitals in the United States, and our 43,000 employees understand that, in the right hands and with the right context, our diagnostic insights can inspire actions that transform lives. For more information, please visit www.QuestDiagnostics.com.
50th Anniversary: In 2017, Quest Diagnostics celebrates 50 years of life-changing results. To learn about our legacy of accomplishments and quest to improve healthcare in the future, visit www.QuestDiagnostics.com/50Years.