SECAUCUS, N.J. and RESEARCH TRIANGLE PARK, N.C., April 1, 2021 /PRNewswire/ -- Quest Diagnostics
(NYSE: DGX), the world's leading provider of diagnostic information
services, today announced the sale of its minority share in
Q2 Solutions to IQVIA (NYSE: IQV), a leading global
provider of advanced analytics, technology solutions, and clinical
research services to the life sciences industry, for $760 million in an all-cash transaction.
Q2 Solutions is a leading global clinical laboratory
services organization that provides comprehensive testing, project
management, supply chain, biorepository, biospecimen and consent
tracking solutions for clinical trials. IQVIA and Quest established
Q2 Solutions as a joint venture in 2015. IQVIA
previously owned a 60 percent majority share and Quest Diagnostics
owned a 40 percent minority share.
"Divesting from Q2 Solutions supports our vision to
be focused on empowering better health with diagnostic
information services," said Steve
Rusckowski, Quest Diagnostics Chairman, CEO and President.
"We are proud of our contributions to the growth of Q2
Solutions, and are confident that IQVIA has the strategic vision
and agility to lead Q2 Solutions on the next phase of
its journey as a global leader in central lab services."
Under a multi-year agreement, Quest will remain the strategic
preferred laboratory provider for Q2 Solutions' clients,
providing a range of complementary lab testing capabilities to
augment Q2 Solutions' core offerings and extend its
industry leading suite of services.
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, our 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 our approximately
50,000 employees understand that, in the right hands and with the
right context, our diagnostic insights can inspire actions that
transform lives. www.QuestDiagnostics.com.
View original content to download
SOURCE Quest Diagnostics