Secaucus, N.J.-based Quest Diagnostics signed a definitive agreement to acquire Cleveland HeartLab, a spinoff of Cleveland Clinic, Oct. 18.
As part of the agreement, the organizations will work together to expand Cleveland HeartLab's existing relationship with Boca Raton, Fla.-based MDVIP, a nationwide network of more than 850 primary care physicians.
Quest and Cleveland Clinic also intend to form a strategic collaboration to spur the development of innovative diagnostic services for various diseases. The organizations will create a joint steering committee of experts to evaluate biomarkers for inflammation and other areas of disease research. The institutions will also collaborate on trials to analyze the clinical and economic value of such biomarkers.
"Our goal is to accelerate the development of new tools for diagnosing human disease and to make those tools broadly accessible for clinical use," said Brian Donley, MD, chief of staff at the Cleveland Clinic. "That's a powerful combination which, over time, will deliver improved healthcare value for many patients."