News of Davis' hiring comes as Quest also announced an agreement to acquire the lab-related clinical outreach service operations of Dignity Health, a San Francisco-based hospital system.
“With this acquisition, patients, physicians and payers in California and Nevada will gain access to a wider range of high-quality, innovative diagnostic information services and patient service center options at lower cost,” Rusckowski said in a release.
“Quest's specialization in diagnostic information services will enable this important service line to remain competitive while also allowing Dignity Health to invest more strategically in acute and ambulatory clinical care,” Lloyd Dean, president and CEO of Dignity Health, said in the release.
The deal with Dignity Health is expected to close in June of this year, making it the second acquisition of an outreach business by Quest in 2013. In January, Quest acquired UMass Memorial Medical Center's clinical and anatomic-pathology outreach laboratory businesses. Terms were not disclosed for either transaction, though Quest did release its third quarter financial results along with news of the Dignity Health deal.
For the first quarter of 2013, ended March 31, Quest reported income from continuing operations of $116 million, compared with $156 million in the year-ago quarter. However, Quest credited the UMass acquisition with a 1% growth in volume and revenue. Revenues from continuing operations for the quarter hit $1.8 billion, down from $1.9 billion in the first quarter of 2012.
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