Quest Diagnostics Inc. (DGX) Sells OralDNA Labs to Access Genetics for Undisclosed Amount
1/2/2013 7:30:48 AM
MADISON, N.J., Dec. 31, 2012 /PRNewswire/ -- Quest Diagnostics (NYSE: DGX), the world's leading provider of diagnostic information services, announced today that it has sold substantially all of the assets of its OralDNA® Labs salivary-diagnostics business to Access Genetics, a leading clinical laboratory with advanced molecular diagnostics test development and information technology capabilities. Terms of the transaction were not disclosed.
The divestiture of OralDNA represents a step in the company's ongoing strategy to refocus its resources on its core diagnostic information services business for physicians and hospitals, drive operational excellence and restore growth. In November, the company announced changes to its management team and simplified its organization structure in order to concentrate on its core business.
Access Genetics has provided support and expertise for OralDNA-based testing services for dental professionals since 2008. As part of the transaction, OralDNA's testing services, now provided from a facility in Brentwood, Tennessee, will consolidate under Access Genetic's CLIA- and CAP-certified laboratory in Eden Prairie, Minnesota.
About Quest Diagnostics
Quest Diagnostics is the world's leading provider of diagnostic information services that patients and doctors need to make better healthcare decisions. The company offers the broadest access to diagnostic information services through its network of laboratories and patient service centers, and provides interpretive consultation through its extensive medical and scientific staff. Quest Diagnostics is a pioneer in developing innovative diagnostic tests and advanced healthcare information technology solutions that help improve patient care. Additional company information is available at QuestDiagnostics.com.
Quest Diagnostics Contacts:
Wendy Bost (Media): 973-520-2800
Kathleen Valentine (Investors): 973-520-2900
SOURCE Quest Diagnostics