26 December 2018 | News
Terms of this transaction were not disclosed.
Quest Diagnostics, the world's leading provider of diagnostic information services has announced that it has completed the sale of its India medical diagnostic service business to Strand Life Sciences, a Bangalore-based specialized diagnostics company.
Terms of this transaction were not disclosed. Alvarez & Marsal Corporate Finance & Restructuring, India acted as the exclusive financial advisor to Quest Diagnostics.
About Quest Diagnostics
Quest Diagnostics empowers people to take action to improve health outcomes. Derived from the world's largest database of clinical lab results, its diagnostic insights reveal new avenues to identify and treat disease, inspire healthy behaviors and improve health care management. Quest annually serves one in three adult Americans and half the physicians and hospitals in the United States, and its 45,000 employees understand that, in the right hands and with the right context its diagnostic insights can inspire actions that transform lives.
About Strand Life Sciences
Strand Life Sciences is a clinical research and diagnostics company that combines a long track record in bioinformatics with cutting-edge laboratory assays and a vast hospital partner network to drive newer generations of patient care. Strand's customers include global instrument, diagnostic and pharmaceutical 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, infectious diseases and general wellness.