IQVIA Acquires Remaining Interest in Q² Solutions from Quest Diagnostics; Raises Full Year 2021 Adjusted Diluted EPS Guidance
- Date 6 Apr 2021
Iqvia, a leading global provider of advanced analytics, technology solutions, and clinical research services to the life sciences industry, today announced the acquisition of the 40 percent minority share of Q2 Solutions from Quest Diagnostics (NYSE: DGX), the world leader in diagnostic information services, for $760 million, resulting in 100 percent ownership by IQVIA. The transaction has been financed through cash on hand and is not expected to impact IQVIA’s target net leverage ratio.
Q2 Solutions is a leading global clinical laboratory services organization that provides comprehensive testing, project management, supply chain, biorepository and biospecimen and consent tracking solutions for clinical trials. Established as a joint venture in 2015, IQVIA previously owned a 60 percent majority share and Quest Diagnostics owned a 40 percent minority share.
Quest will remain the strategic preferred laboratory provider for Q2 Solutions clients under a multi-year agreement to provide a range of complementary lab testing capabilities to augment Q2 Solutions’ core offerings, extending its industry leading suite of services.
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