Madison, N.J.-based Quest Diagnostics has signed an agreement to acquire two Lewisville-based laboratory businesses. The labs, Med Fusion and Clear Point, will serve as a base for Quest’s southwestern unit to provide precision medicine diagnostics for cancer. Terms of the pending deal were not disclosed.
Med Fusion and Clear Point both provide a full range of diagnostic services to physicians and provider networks including Baylor Scott & White Health; The U.S. Oncology Network (The Network, which is supported by McKesson Specialty Health); Texas Oncology; and Pathologists Bio-Medical Laboratories. With this transaction, Quest will be able to provide its services to 12 BSWH hospitals in North Texas and become a preferred provider of advanced oncology diagnostics for The Network, including Texas Oncology.
Once the deal is officially closed, Quest will work with McKesson Specialty Health and The Network and Texas Oncology to collaborate on the development of “standardized, evidence-based services for guiding treatment decisions within the electronic patient record and care plan workflow.” Quest will then offer these services in its Dallas-Fort Worth office to providers in its network regionally and nationally.
The Med Fusion/Clear Point deal represents an expansion in Texas for Quest, which currently operates full-service laboratories in Irving and Houston. The transaction is expected to be completed by the end of the third quarter.
Chad Richards, vice president and general manager of Quest’s Southwest region, told D CEO Healthcare that Quest’s goal is to create a center of excellence in North Texas that will focus on bringing advanced diagnostics testing to community-based physicians and patients.
“We are particularly excited to leverage Quest’s scale to grow the precision medicine business Med Fusion has created in cancer,” Richards said. “Med Fusion’s advanced diagnostics testing helps physicians select and monitor treatments based on each patient’s unique disease. This approach has the potential to greatly improve the quality of care for people with cancer.”