Premier Health has purchased an ownership stake in Moraine-based CompuNet Clinical Laboratories previously held by Quest Diagnostics — one of the nation’s largest drug-testing firms, based in New Jersey — for an undisclosed price.
The transaction, which closed June 1, is not expected to affect CompuNet’s nearly 600 local employees, Dayton-based Premier said in press release announcing the purchase Thursday.
Premier, southwest Ohio’s largest hospital network, will maintain the majority stake in CompuNet that it has held since 2014. Valley Pathologists Inc., a medical practice in Dayton, will also continue to hold a small share of the full-service clinical laboratory that performs 98 percent of all drug testing in the Dayton area, or approximately 6 million tests each year, according to the press release.
“This transaction will help Premier Health achieve its vision of a more system-based approach to clinical laboratory testing,” said Mary Boosalis, Premier’s president and CEO. “It enables us to build upon our existing laboratory capabilities, achieve greater economies of scale, and control the costs of laboratory services.”
Said Dr. Atef Shrit, chairman of the board of directors for CompuNet: “The change in ownership provides CompuNet with a greater degree of independence. With 100 percent local control, our ability to enhance testing capabilities which impact the community is greatly improved.”