Quest Diagnostics closes deal to buy Cleveland HeartLab for $94 million

Story excerpt provided by Crain’s Cleveland Business.
Written by Chuck Soder.

Quest Diagnostics announced on Friday, Dec. 1, that it has officially closed a deal to buy Cleveland HeartLab.

Quest, a Fortune 500 medical testing company, announced the deal on Oct. 18. It announced how much it would pay for the company — $94 million in cash — the next day in its third-quarter report.

As part of Quest, Cleveland HeartLab’s local facility will serve as “a national center of excellence” focused on tests related to heart disease, according to a news release announcing the closing of the deal.

Quest also finalized a collaboration with the Cleveland Clinic, which owns a significant stake in Cleveland HeartLab.

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Originally published December 1, 2017.

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