M&A Deal Summary

Quest Diagnostics Acquires LifeLabs

On July 3, 2024, Quest Diagnostics acquired life science company LifeLabs from OMERS Infrastructure for 985M USD

Acquisition Highlights
  • This is Quest Diagnostics’ 13th transaction in the Life Science sector.
  • This is Quest Diagnostics’ 2nd largest (disclosed) transaction.
  • This is Quest Diagnostics’ 1st transaction in Canada.
  • This is Quest Diagnostics’ 1st transaction in Ontario.

M&A Deal Summary

Date 2024-07-03
Target LifeLabs
Sector Life Science
Buyer(s) Quest Diagnostics
Sellers(s) OMERS Infrastructure
Deal Type Add-on Acquisition
Deal Value 985M USD

Target

LifeLabs

Toronto, Ontario, Canada
LifeLabs is a provider of more than 50 million laboratary tests to over 10 million patients and nearly 20,000 physicians across Canada. LifeLabs is based in Toronto, Canada.

Search 198,008 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Quest Diagnostics

Secaucus, New Jersey, United States

Category Company
Founded 1967
Sector Healthcare Services
Employees50,000
Revenue 9.3B USD (2023)
DESCRIPTION

Quest Diagnostics is a provider of diagnostic information services that patients and doctors need to make better healthcare decisions. The company offers the broadest access to diagnostic information services through its network of laboratories and patient service centers, and provides interpretive consultation through its extensive medical and scientific staff. Quest Diagnostics was founded in 1967 and is based in Secaucus, New Jersey.


DEAL STATS #
Overall 38 of 38
Sector (Life Science) 13 of 13
Type (Add-on Acquisition) 26 of 26
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 2 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-27 Haystack Oncology

Baltimore, Maryland, United States

Haystack Oncology is an early-stage oncology company focused on minimal residual disease (MRD) testing to aid in the early, accurate detection of residual or recurring cancer and better inform therapy decisions. Haystack Oncology was founded in 2021 and is based in Baltimore, Maryland.

Buy -

Seller(S) 1

SELLER

OMERS Infrastructure

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Infrastructure
Founded 1990
Size Mega
Type Sector Focused
DESCRIPTION

OMERS Infrastructure is the infrastructure investment arm of Canadian pension plan OMERS. OMERS targets 'large-scale' infrastructure investments valued in excess of $1 billion where the firm can commit at least $200 million of equity capital. Prospective opportunities generally possess significant governmental or regulatory barriers to entry, as well as stable cash-flows linked to long-term contracts. Specific areas of interest include energy (generation, transmission and distribution networks), transportation (transportation gateways, rail corridors, ports and airports), institutional facilities (hospitals, long-term care facilities and schools), and government-regulated services (laboratory diagnostic services, satellite and other communications networks and land registry services). OMERS was formed in 1990 and is based in Toronto.


DEAL STATS #
Overall 14 of 14
Sector (Life Science) 1 of 1
Type (Add-on Acquisition) 8 of 8
State (Ontario) 4 of 4
Country (Canada) 5 of 5
Year (2024) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-12 Chicago Skyway

Chicago, Illinois, United States

Chicago Skyway is a 12.5km toll road providing a critical link between downtown Chicago and communities in eastern Illinois and Northwest Indiana. Chicago Skyway is based in Chicago, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-06 Grandi Stazioni Retail

Rome, Italy

Grandi Stazioni Retail is a management of commercial leasing and advertising spaces of 14 Italian railway stations. Grandi Stazioni Retail was founded in 2016 and is based in Rome, Italy.

Buy -