Beneficiary
$1.35B acquisition
Quest Diagnostics acquired LifeLabs from OMERS for roughly CAD $1.35B in August 2024 and, per a March 2026 notice to external laboratories, began transferring reference laboratory testing previously done in Ontario hospitals to Quest's US-based reference labs starting in April 2026 (phased through July 2026), a move LifeLabs said was 'to save money' -- shifting Ontario health-system dollars and testing volume to Quest's American facilities. The Ontario Health Coalition and Ontario NDP publicly opposed the move over privacy, specimen-quality, and health-dollar-outflow concerns.