Quest Diagnostics Enters Neurology Testing Market

(Madison, NJ, USA) has signed a definitive agreement to purchase Athena Diagnostics (Worcester, MA, USA) from Thermo Fisher Scientific (Waltham, MA, USA) for US$740 million in cash. The acquisition of Athena, a laboratory specializing in genetic testing for neurological disorders, will complement Quest's portfolio of testing for cancer, infectious disease, and cardiovascular disease.

Athena Diagnostics supplies advanced tests used to rule out, or confirm, physicians' diagnoses of neurological conditions, such as Alzheimer's disease, neuromuscular disorders such as spinal muscular atrophy, and developmental disorders. The company has a comprehensive test menu and intellectual property portfolio for neurological conditions through more than 350 diagnostic tests.

"The acquisition of Athena Diagnostics, the premier provider of esoteric and genetic testing for neurology, will establish Quest Diagnostics as the clear leader in this rapidly emerging market, which represents one of the next significant growth areas in diagnostic testing," said Surya N. Mohapatra, PhD, chairman and CEO of Quest Diagnostics.

Quest Diagnostics is a provider of diagnostic testing, information, and services that patients and doctors need to make better healthcare decisions. The company offers broad access to diagnostic testing services through its network of laboratories and patient service centers, and provides interpretive consultation through its extensive medical and scientific staff.

The transaction is expected to be completed early in the second quarter of 2011 following the satisfaction of customary conditions.

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Quest Diagnostics Inc.
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