Ontario pension fund OMERS sells LifeLabs to Quest Diagnostics for $1.35B, pending regulatory approval.

Ontario pension fund OMERS has agreed to sell medical lab firm LifeLabs to U.S.-based Quest Diagnostics for $1.35 billion, including debt. The deal, subject to regulatory approvals, will see LifeLabs retain its brand, Canadian headquarters, and management once it is closed. Quest Diagnostics plans to help LifeLabs improve online appointment scheduling and speed up patient service center processing.