Once the transaction closes, Quest will become the preferred provider of advanced oncology diagnostics for The Woodlands, Texas-based The US Oncology Network, one of the five co-owners of the two laboratories.
Quest will also become the preferred provider for a full range of inpatient and outpatient diagnostic services for 12 hospitals within the Dallas-based Baylor Scott & White health system. BS&W is also one of the co-owners of the laboratory operations.
Officials expect to close the transaction within the third quarter of 2017, subject to customary regulatory approval.
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