Quest Increases Presence in New Mexico with S.E.D. Labs Acquisition

Medical Laboratories (Albuquerque, NM, USA) will soon become part of Quest Diagnostics (Inc. Madison, NJ, USA) through a definitive agreement signed by Lovelace Health System and Quest Diagnostics. The acquisition agreement includes the transfer of the main offices and lab, nine Patient Service Centers in Albuquerque and Rio Rancho, and six additional locations across New Mexico. Quest Diagnostics will acquire the assets of S.E.D. Medical Laboratories and manage in-patient labs for the four Lovelace hospitals, (Albuquerque, NM, USA) as well as serve Lovelace Health Plan members. Financial terms of the transaction were not disclosed.

Lovelace has invested more than USD 8 million in S.E.D. since it acquired the lab from St. Joseph Healthcare System in late 2002 and combined it with the Lovelace lab network in early 2003. Among the large capital projects was the lab automation system put in place last fall.

S.E.D. Medical Laboratories is a nationally recognized full-service medical and federally certified drugs-of-abuse testing laboratory. The company operates from a modern 50,000 square-foot facility with state-of-the-art equipment and cutting-edge technology.

"This agreement will provide S.E.D. and its medical and scientific staff with more access to innovation, new technology and capital resources," said Ron Stern, president and CEO of the Lovelace Health System. "Quest Diagnostics is a leading provider of diagnostic testing in the world. Its access to new technology will also help to further improve diagnosis, and Lovelace patients and health plan members will benefit from its experience and scale."

Lovelace Health System comprises a network of acute-care hospitals, a rehabilitation hospital, the Lovelace Health Plan offering access to a wide range of health care providers and specialists across New Mexico, S.E.D. Medical Laboratories, and retail pharmacy locations in Albuquerque, Rio Rancho, and in Santa Fe.

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.

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