Quest Diagnostics and Oxford Immunotec Global PLC signed a definitive agreement under which Quest will acquire the US laboratory services business of Oxford Immunotec. The acquisition, once completed, will include the T-SPOT.TB tuberculosis and the Accutix tick-borne disease testing services provided by Oxford Immunotec’s laboratories in Memphis (Tennessee) and Norwood (Massachusetts). As part of the transaction, Oxford Immunotec will sell T-SPOT.TB test kits and related accessories to Quest Diagnostics under the terms of a long-term supply agreement, which would be effective at closing of the acquisition. In addition, the parties expect to enter into a strategic collaboration agreement to drive continued growth of T-SPOT.TB testing in the United States of America.
Quest Diagnostics intends to continue to offer QuantiFERON TB blood testing services to provide physicians choice in blood-based TB testing. This acquisition will extend their capabilities in infectious disease diagnostics, consistent with their strategy to accelerate growth by broadening access to diagnostic innovation. The transaction has been approved by the board of directors of both companies, and is expected to be completed in the fourth quarter of 2018, subject to customary regulatory approvals.
“The acquisition will build on our momentum in TB services by enabling us to bring greater choice to physicians who seek innovative blood-based TB testing over traditional methods.”
Chairman, President, and CEO,