Strand Life Sciences Acquires India Diagnostics Business from Quest Diagnostics
Strand Life Sciences Acquires India Diagnostics BusinessfromQuest Diagnostics
Chennai, India, October 08, 2018: Strand Life Sciences, specialized research and diagnostics companytoday ann ounced an agreement to acquire the India medical diagnostics business ofQuest Diagnostics (NYSE: DGX), the world’s leading provider of diagnostic information services. “This acquisition is an important addition to our net work of24diagnostic labs across India, especially as we continue to expand our work in oncology, genomics, and pr ecision medicine.It adds strong North India presence and marquee clientele that includes leading hospital cha ins, corporates and pharmaceutical clients to our portfolio, making us India’s leading specialized diagnostics company”, said Dr. Ramesh Hariharan, Chief Executive Officer, Strand Life Sciences.
Steve Rusckowski, Chairman, President and CEO, Quest Diagnostics, commented:“We have built a diagnostic lab oratory in India with a reputation for quality over the past 10 years. As our business model has evolved,we believe Strand Life Sciences is well positioned to continue the important work of empowering the people of In dia to impr ove their health with diagnostic insights.”The two companies will work together to manage the tra nsition, and aim to close the sale by the end of first quarter 2019. Terms of this transaction were not disclosed.
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 hea lthy behaviors and improve health care management. Quest annually serves one in three adult Am ericans and half the physicians and hospitals in the United States, and our 45,000 employees understand th at, in the right hands an d with the right context, our diagnostic insights can inspire actions that transform lives. www.QuestDiagnostics.com.
About Strand Life Sciences
Strand Life Sciences is a clinical research and diagnosticscompany that combines a long track record in bioin for matics with cutting-edge laboratory assays and a vast hospital partner network to drive newer generations of pa tient care. Strand’s customers include global instrument, diagnostic and pharmaceutical companies. Strand is also a pioneer of genomic testing in India. Strand’s diagnostics menu makes it India’s leading integrated specialized dia gnostics company,covering oncology, genetics, fertility, women’s health, infectious diseases and general wellnes s.For more information, visit Strand’s website at https://strandls.com