Quest Diagnostics snags Celera in $344M buyout

Quest Diagnostics is snapping up Celera--along with its expertise in genetics and biomarkers--for $344 million in cash. "Our discovery and validation of new biomarkers has exceeded our capacity to commercialize them. Combining Celera's expertise in genetics with Quest Diagnostics' medical leadership, market access and scale is expected to speed the realization of our vision to personalize medicine. We believe this is a compelling transaction that accelerates the delivery of value to our shareholders," said Kathy Ordonez, the CEO of Celera. Story