Oncquest Laboratories has acquired Quest Diagnostic’s Indian facilities from Strand Life Sciences. The acquisition is expected to add significant muscle power to Oncquest and propel it into an aggressive growth trajectory.
The erstwhile Quest diagnostic’s Gurugram facility was built with the best global standards in the year 2008 and is one of the largest lab facilities in Asia, as per a release. Quest exited India and sold off its entire India facilities to Strand Life Sciences in the year 2018, from whom it has been now acquired by Oncquest.
The facility, located at A-17, Info City, Sector-34 Gurugram, will be the new Oncquest’ s National Reference Laboratory. The facility is NABL & CAP-accredited and can take care of all the segments of pathology testing.
Speaking on the occasion, Aditya Burman, promoter and MD, Oncquest Labs said, “This acquisition is just the right trigger we needed to catapult our growth plans. We do look forward to many more such synergistic acquisitions to help us ramp-up our operations in India. We are known for providing solutions to “difficult diagnosis” and with this, we hope to consolidate our position further. We are very excited about the possibilities. We look forward to filling the gaps and offer customised solutions at all levels of healthcare platform”.
“Oncquest is known for companion diagnosis and pharmacogenomics. The acquisition will help in making it the future epicentre of the much technological advancement in healthcare. The vast infrastructure and facility will ensure fast, accurate and advance first-in-class services, thereby contributing to broadening the offering, while supporting the group’s continued expansion into new fields and adjacent countries” said Dr Ravi Gaur, Director, Oncquest Laboratories.
The need for “global-standards-quality diagnostics” goes beyond the top cities. “Oncquest will aggressively look at expanding into new geographies and reaching out in smaller towns where solutions for difficult and hi-end diagnosis are limited. Oncquest will make the best mix of the existing diagnostic models to turn it into a sustainable model,” said Ravinder Deep Singh Sethi, COO, Oncquest Laboratories.