Quest Diagnostics plans to acquire Allina Health's laboratory assets at most of its ambulatory clinic sites.
The company and the Minneapolis-based health system have signed an definitive agreement and expect the transaction to close this fall, pending regulatory approvals. Financial terms were not disclosed. The deal does not involve Allina Health's hospital lab sites or its central lab in Minneapolis.
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Quest would continue to offer lab services to Allina clinic physicians and other clients. Employees affected by the transaction are expected to be offered positions at Quest or in other areas of Allina Health, a spokesperson for the system said Thursday.
"This relationship with Quest will allow Allina Health to keep pace with investments in rapidly evolving laboratory technology, maintain excellent patient care and reinvest our non-profit resources to support Allina Health’s mission well into the future," the spokesperson said.