Quest To Acquire Summa Health’s Outreach Lab Business
Quest Diagnostics (Secaucus, NJ) has agreed to acquire select assets of Summa Health’s (Akron, OH) clinical lab outreach business, which does business as LabCare Plus, in an all-cash transaction. Summa picked Quest as a buyer after a competitive bid. The purchase price has not been disclosed.
Summa Health operates four hospitals and a multi-specialty medical group with 300 physicians at 100 offices in northeast Ohio. Summa Health will continue to own and operate its hospital labs, which serve inpatient and hospital-based outpatient departments. In addition, Summa will maintain its pathology department and services.
Summa’s LabCare Plus outreach business is based at its flagship Summa Health System—Akron Campus (648 beds). LabCare Plus has 19 patient service centers in the greater Akron area. It generated $1.5 million in Medicare CLFS payments in 2021. Laboratory Economics estimates that the overall outreach business has revenue of $5-10 million per year.
Quest plans to shift the acquired outreach test volumes to its labs in Twinsburg, Ohio (22 miles north of Akron) and Pittsburgh (111 miles southeast).
The transaction is expected to close in the fourth quarter of 2022.