Minneapolis-based Allina Health signed an agreement to sell some lab assets to Quest Diagnostics for improved access and affordability of services.
"We are grateful for our Allina Health laboratory team and the foundation of excellence they have established in lab services. Quest is the right partner to build on this strength to ensure providers and patients can continue to access innovative and high-quality laboratory services," said Dominica Tallarico, COO for Allina Health. "This transaction will also allow us to reinvest our non-profit resources to support our caring mission well into the future."
Quest will offer lab services to Allina's clinic physicians and outreach provider clients spanning Minnesota and Wisconsin. The transaction is subject to regulatory review and is expected to close in the third quarter.
The two organizations did not disclose financial terms of the sale.