LifeLabs, which provides medical laboratory testing services across Canada, has been sold to an American company.
The deal, announced Wednesday, will see Quest Diagnostics purchase LifeLabs for more than $1.3 billion. LifeLabs is currently owned by OMERS, which manages the pension plan for Ontario municipal employees.
The new owners say LifeLabs will keep its branding, Canadian headquarters, and management. They say they will improve data security at LifeLabs, and make sure health data for Canadian patients remains in Canada.
Quest is also promising to improve online appointment scheduling and patient service centre processing.
This spring LifeLabs paid out more than $7 million in a class action suit over a 2019 privacy breach and ransomware attack.
