Sector News

Quest Diagnostics will close its lab in Troy, Michigan

March 15, 2018
Life sciences

Quest Diagnostics, the New Jersey-based diagnostics maker, will close its Troy, Michigan, laboratory by early May, laying off 57 workers at the facility.

The company, which provides clinical lab services, operates four labs in Michigan that employ about 540 people. Some employees at the Troy site will be eligible to apply for jobs at other locations, Crain’s Detroit Business reported.

“As our company responds to market forces and reimbursement challenges, we have determined we can be more efficient by reducing touch points in our testing process,” Denny Moynihan, a company spokesman, told Crain’s.

Quest acquired Summit Health in 2014, which, at the time, employed about 175 workers across the U.S.

Last July, Quest completed its acquisition of two laboratory businesses in Texas, establishing a foothold in the southwestern U.S. with a new national “center of excellence” for cancer precision diagnostics.It was part of the company’s move to scale up in precision medicine.

Since President Barack Obama announced the Precision Medicine Initiative in 2015, several other players have been working to scale precision medicine, such as San Francisco-based Dignity Health and Catholic Health Initiatives in Colorado.

By Joseph Keenan

Source: Fierce Biotech

comments closed

Related News

June 24, 2022

Echosens and Novo Nordisk announce partnership to increase awareness and advance early diagnosis of NASH

Life sciences

Echosens, a high-technology company offering liver diagnostic solutions, and Novo Nordisk A/S, a leading global healthcare company, announced a partnership to advance early diagnosis of non-alcoholic steatohepatitis (NASH) and increase awareness of the disease among patients, healthcare providers and other stakeholders.

June 24, 2022

argenx receives positive CHMP opinion for Efgartigimod for the treatment of adult patients with Generalized Myasthenia Gravis in Europe

Life sciences

Positive opinion based on Phase 3 ADAPT trial showing efgartigimod provided clinically meaningful improvements in strength and quality of life measures. If approved, efgartigimod will be the first neonatal Fc receptor (FcRn) blocker for the treatment of adults in Europe living with rare neuromuscular disease generalized myasthenia gravis (gMG).

June 24, 2022

Galapagos finally takes M&A plunge, spending $251M for 2 biotechs in CAR-T push

Life sciences

Galapagos CEO Paul Stoffels, M.D., has finally taken the plunge on M&A. The newly minted chief executive has signed not one but two deals in an attempt to right the ship, bringing two small biotechs aboard for a combined 239 million euros ($251.4 million).