31 March 2021 | News
Merging aims to invest and deliver in the areas of automation, robotics, information and communication technologies, and next-generation sequencing tools as a reformation strategy to endeavour
Photo Credit: Freepik
Innovative Diagnostic Pte. Ltd. and Quest Laboratories Pte. Ltd., both established private medical laboratories in Singapore, officially announced the merger of the two companies to form Innoquest Diagnostics Pte Ltd (Innoquest).
Medical laboratories conduct tests on clinical specimens and provide healthcare professionals with the necessary insights for effective and safe patient management. The recent COVID-19 pandemic placed medical laboratories front and centre in the battle to control the disease. However, well before COVID-19, medical laboratories have played a crucial role in the healthcare delivery system accounting for some 70% of critical medical decisions yet accounting only 3% of the total healthcare dollar.
The formation of Innoquest Diagnostics through this merger provides the leverage for the company to reach sufficient scale and scope to significantly invest and deliver on its plans for automation, robotics, information and communication technologies, and next-generation sequencing tools to lead Singapore and the Asia Pacific markets into the future of diagnostics.
Unifying as Innoquest Diagnostics
With a staff strength of about 600 employees, Innoquest performed around 50 million tests for approximately 5 million patients in 2020 from 7 facilities across Singapore. The combined resources of both companies facilitated the rapid ramp-up to support the Singapore Government during the pandemic. To date, Innoquest has delivered COVID-19 rt-PCR tests for over 3.5 million patients in Singapore.
"Together with our counterparts at the Ministry of Health and our suppliers, the Innoquest team rallied to plan, build and commission one of the largest COVID-19 testing facilities in Southeast Asia in record time in the most challenging of circumstances which is a notable contribution in helping Singapore successfully navigate this pandemic,” said Ms Ginny Foo, CEO of Innoquest