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Quest Diagnostics to divest India medical diagnostics business to Strand Life

Quest Diagnostics Inc. agreed to sell its India medical diagnostics business to Bangalore, India-based diagnostics company Strand Life Sciences Pvt Ltd.

The acquisition will add three reference labs to Strand Life's network of 24 diagnostic labs across India, said Strand Life CEO Ramesh Hariharan.

Secaucus, N.J.-based Quest and privately held Strand Life did not disclose the terms of the transaction, which is expected to close in the first quarter of 2019.