February 7, 2007

Quest Diagnostics Inc has entered the in vitro diagnostic market with the purchase of Sweden-based HemoCue for approximately $420 million.

HemoCue provides point-of-care blood tests for hemoblobin and products for professional glucose and microalbumin testing. The company produces handheld point-of-care products and in developing countries these systems are used as the primary means to screen for anemia.

Quest Diagnostics will integrate HemoCue’s handheld systems with its Care360 portal, which enables doctors to store, access and share patient information. The Care360 portal provides physicians with 24/7 access to lab and medication records, patient medical history, and remote ordering of lab testing or e-prescribing.

More information can be found at the company’s Web site.