Yahoo Finance Quest Diagnostics Completes Acquisition of Select PathAI Diagnostics' Lab Assets from PathAI, Accelerating Adoption of AI and Digital Pathology to Speed Cancer Diagnosis
PathAI remains an independent company, focused on developing innovative AI and digital pathology solutions
SECAUCUS, N.J. and BOSTON, June 11, 2024 /PRNewswire/ -- Quest Diagnostics (NYSE: DGX), a leader in diagnostic information services, today announced that it has completed its previously announced acquisition of PathAI Diagnostics from PathAI, with the goal to accelerate the adoption of AI and digital pathology to improve the diagnosis of cancer and other diseases.
PathAI remains an independent company, dedicated to advancing AI and digital pathology solutions for biopharmaceutical companies and pathology laboratories. The transaction will support PathAI's strategy to scale its investments in AI technology and expand its software and algorithm business.
In connection with the acquisition, the PathAI Diagnostics state-of-the-art digitized laboratory in Memphis has been rebranded as AmeriPath and will act as the national AI and digital R&D and solutions center supporting Quest's specialty pathology businesses, AmeriPath and Dermpath Diagnostics. PathAI will continue to maintain a separate research laboratory at the same site in Memphis, Tennessee to support its biopharmaceutical clients.
In addition, PathAI and Quest have formed separate agreements to further accelerate the adoption of AI and digital pathology based on their strengths and scale. Specifically, Quest will license PathAI's AISight™ digital pathology image management system to support Quest's pathology laboratories and customer sites in the United States. Quest is also a preferred partner of lab services for PathAI's biopharmaceutical clients. In addition, PathAI and Quest may also collaborate on developing AI algorithms with potential research and clinical applications.
Quest has a long history of strategic AI and automation deployment. The company has implemented AI, digital and automation technologies across several laboratory and business functions, from microbiology and cytogenetics to specimen processing and customer service, improving quality, efficiency and customer and employee experiences.
About PathAI
PathAI is dedicated to improving patient outcomes through its groundbreaking AI-powered pathology platform. Our solutions provide invaluable insights for biopharmaceutical companies, researchers, and pathology laboratories, ultimately enabling precision pathology and the vision of more effective diagnosis and treatments. Learn more at www.pathai.com.
About Quest Diagnostics
Quest Diagnostics works across the healthcare ecosystem to create a healthier world, one life at a time. We provide diagnostic insights from the results of our laboratory testing to empower people, physicians and organizations to take action to improve health outcomes. Derived from one of the world's largest databases of deidentified clinical lab results, Quest's diagnostic insights reveal new avenues to identify and treat disease, inspire healthy behaviors and improve healthcare management. Quest Diagnostics annually serves one in three adult Americans and half the physicians and hospitals in the United States, and our nearly 50,000 employees understand that, in the right hands and with the right context, our diagnostic insights can inspire actions that transform lives and create a healthier world. www.QuestDiagnostics.com.
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SOURCE Quest Diagnostics
