The deal is expected to close in the fourth quarter. The acquisition will include Oxford’s tuberculosis testing services T-SPOT.TB and Accutix, a tick-borne disease testing service.
The services are provided by labs in Memphis, Tenn., and Norwood, Mass.
"This acquisition will extend our capabilities in infectious disease diagnostics, consistent with our strategy to accelerate growth by broadening access to diagnostic innovation," Quest Chairman, President and CEO Steve Rusckowski said in a release.
Oxford will sell T-SPOT.TB test kits and accessories to Quest under a long-term supply agreement, which will go into effect at the closing as part of the acquisition agreement. The companies also expect to enter into a strategic collaboration to further T-SPOT.TB’s growth in the U.S.
Quest will continue to offer its QuantiFERON TB blood testing services.
The news comes a day after Quest’s announcement of its acquisition of Woburn, Mass.-based ReproSource.
Quest Diagnostics is headquartered in Secaucus; Oxford Immunotech Global PLC has headquarters near Oxford, U.K., and in Marlborough, Mass.