Quest Diagnostics to Acquire PathAI Diagnostics to Accelerate AI and Digital Pathology Adoption in Cancer Diagnosis; Forms Licensing Agreements With PathAI

Transaction is part of wide-ranging collaboration to combine Quest's oncology expertise and scale with PathAI's AI and digital pathology innovations to speed diagnosis, improve quality and reduce costs

SECAUCUS, NJ and BOSTON, MA / ACCESSWIRE / May 6, 2024 / Quest Diagnostics (NYSE:DGX), a leader in diagnostic information services, and PathAI, a global provider of artificial intelligence-powered technology for pathology, announced a multi-faceted collaboration designed to accelerate the adoption of digital and AI pathology innovations to improve quality, speed and efficiency in diagnosing cancer and other diseases.

Under the terms of a definitive agreement, Quest will acquire select assets of PathAI Diagnostics, the business of PathAI that provides anatomic and digital pathology laboratory services. At closing, PathAI Diagnostics' state-of-the-art digitized laboratory in Memphis, Tennessee will become Quest's AI and digital R&D and solutions center, supporting Quest's specialty pathology businesses, AmeriPath and Dermpath Diagnostics. PathAI will continue to support its biopharmaceutical clients with end-to-end clinical trial services capabilities at its biopharma lab, which is separate and distinct from the diagnostic laboratory business. The transaction is expected to be completed in the second quarter of 2024.

Under separate agreements, Quest will license PathAI's AISight digital pathology image management system to support its pathology laboratories and customer sites in the United States. The two entities may also pursue opportunities for Quest to aid PathAI's algorithm product development, drawing on Quest's deep pathology leadership. In addition, Quest will be a preferred provider for PathAI's biopharmaceutical clinical laboratory services.

"This transaction will enable Quest to dramatically ramp our capabilities in AI and digital pathology, building on our leadership in oncology and subspecialized pathology services," said Kristie Dolan, Senior Vice President, Oncology, Quest Diagnostics. "AI and digital technologies have tremendous potential to improve cancer care, and Quest has the know-how to scale and deliver innovations that are high quality, efficient and broadly accessible. PathAI has industry-leading expertise in AI pathology innovation, and their state-of-the-art digitized laboratory in Memphis provides a platform for future growth."

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