Quest Diagnostics Incorporated (NYSE:DGX) entered into an agreement to acquire Memorial Hermann Diagnostic Laboratories of Memorial Hermann Healthcare System, Inc. on January 27, 2020. As per the transaction, Quest will acquire substantially all the operations of Memorial Hermann Diagnostic Laboratories. These services will transition to the Quest Diagnostics full-service laboratory in Houston. Upon closing, Quest will also provide professional laboratory management services through a multi-year agreement for all of Memorial Hermann's 21 hospital laboratories, which provide onsite rapid response testing. Memorial Hermann will continue to wholly own these labs. The transaction is subject to customary closing conditions The transaction requires regulatory approval and is expected to close in the second quarter of 2020. Michael Darby, Joshua Milgrim, David Jones, Ian Downes, Abbi Cohen and Francois Quintard-Morenas from Dechert LLP acted as legal advisor for Quest Diagnostics Incorporated.