Cleveland HeartLab has agreed to be acquired by Quest Diagnostics, a Fortune 500 medical testing company based in New Jersey.
The deal should help the Cleveland Clinic spinout company accelerate its growth, said Cleveland HeartLab CEO Jake Orville.
“We’re still a fraction of a fraction of what the real opportunity is,” Orville said, adding that he expects Cleveland HeartLab to keep its 200-plus employees, including roughly 120 who work at its Midtown Cleveland headquarters.
He highlighted the commitment that Quest Diagnostics has made to Cleveland.
For one, the company plans to use Cleveland HeartLab’s headquarters as “a national center of excellence” focused on tests related to heart disease, according to a news release announcing the deal.