Dechert advised Quest Diagnostics, a leading provider of diagnostic information services, on a definitive agreement to acquire select assets of Spectra Laboratories, a wholly owned subsidiary of Fresenius Medical Care and a leading provider of renal-specific laboratory testing services in the U.S.
By acquiring select laboratory assets from Fresenius Medical Care, a globally leading provider of products and services for individuals with renal disease, Quest will add dialysis-related water testing, a new capability, to its comprehensive portfolio.
Under a separate agreement, Quest will provide comprehensive laboratory services related to end-stage kidney disease (ESKD) and specialized water testing for patients and providers served by dialysis centers operated by Fresenius Medical Care and its wholly owned and joint-venture partners in the United States.
This arrangement will enhance operational efficiencies for FME and allow providers and patients to benefit from Quest's expertise in chronic kidney disease and transplantation services. Leveraging Quest's national scale, multiple laboratories across the U.S. will serve nearby dialysis clinics, reducing transportation time and speeding up results. Quest plans to perform testing across several of its laboratories during lower-volume daytime hours, optimizing the return on its laboratory network investment.
The acquisition is expected to close in the second half of 2025, pending customary state regulatory reviews, with the transition of services anticipated to be complete by early 2026.
Dechert previously advised Quest on various acquisitions, including select assets from University Hospitals, OhioHealth, Allina Health, Lenco Diagnostic Laboratories and Steward Health Care System.
The Dechert team that advised Quest Diagnostics included corporate partner Michael Darby, along with associates Gurbir Sandhu, Joy Zhu, Mary Kate Alexandre, Grace Canfield and Ronald Hamilton; senior counsel Susan M. Hendrickson; and intellectual property partner Chad E. Davis.
About Dechert
Dechert is a global law firm that advises asset managers, financial institutions and corporations on issues critical to managing their business and their capital – from high-stakes litigation to complex transactions and regulatory matters. We answer questions that seem unsolvable, develop deal structures that are new to the market and protect clients’ rights in extreme situations. Our nearly 1,000 lawyers across 18 offices globally focus on the financial services, private equity, private credit, real estate, life sciences and technology sectors.
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