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Strand Life Sciences Acquires India Diagnostics Business From Quest Diagnostics

Press Trust of India  |  BANGALORE 

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Life Sciences, a Bangalore-based specialized research and diagnostics company, today announced an agreement to acquire the medical diagnostics business of (NYSE: DGX), the world's leading provider of

"This acquisition is an important addition to our network of 24 diagnostic labs across India, especially as we continue to expand our work in oncology, genomics, and precision medicine. It adds strong presence and marquee clientele that includes leading hospital chains, corporates and to our portfolio, making us India's leading specialized diagnostics company," said Dr. Ramesh Hariharan, Chief Executive Officer, Life Sciences.

Steve Rusckowski, Chairman, President and CEO, Quest Diagnostics, commented: "We have built a diagnostic laboratory in with a reputation for quality over the past 10 years. As our business model has evolved, we believe Life Sciences is well positioned to continue the important work of empowering the people of India to improve their health with diagnostic insights."


The two companies will work together to manage the transition, and aim to close the sale by the end of first quarter 2019. Terms of this transaction were not disclosed.

About

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 behaviour 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 45,000 employees understand that, in the right hands and with the right context, our diagnostic insights can inspire actions that transform lives.

About

Strand Life Sciences is a clinical research and diagnostics company that combines a long track record in with cutting-edge laboratory assays and a vast to drive newer generations of patient care. Strand's customers include global instrument, companies. Strand is also a pioneer of genomic testing in India. Strand's diagnostics menu makes it India's leading integrated specialized diagnostics company, covering oncology, genetics, fertility, women's health, and general wellness. For more information, visit Strand's website at https:trandls.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, October 10 2018. 16:40 IST
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