Quest Diagnostics has signed a definitive agreement to acquire LifeLabs from OMERS to improve diagnostic solutions across Canada
Quest will acquire 100% of LifeLabs’ shares for an aggregate of ~$985M with the transaction concluding in the YE’24, contingent upon customary closing conditions & approvals (Canadian regulatory approvals); further terms were undisclosed
After acquisition, LifeLabs will keep its brand, Canadian headquarters & management, with Quest offering new expertise, innovations & resources such as improved online appointment scheduling and faster patient service centre processing to enhance services. Quest will also improve LifeLabs’ data security, ensuring Canadian health data remains in Canada
Ref: Quest Diagnostics | Image: Quest Diagnostics
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