CCCS Raises Competition Concerns on Private Clinical Laboratories Merger
The Competition and Consumer Commission of Singapore (“CCCS”) has completed its Phase 1 review of the acquisition of Innovative Diagnostics Private Limited (“Innovative”) and Quest Laboratories Pte Ltd (“Quest”) by Pathology Asia Holdings Pte. Ltd. (“PAH”), through its subsidiaries (collectively, the “Parties”) and the intended integration of the businesses of Innovative and Quest (the “Transaction”). PAH is part of TPG, a leading global private investment firm founded in 1992.
CCCS has raised competition concerns with PAH on the Transaction, based on information furnished by PAH and third-party feedback from customers and other suppliers. Innovative and Quest, being two major private independent clinical laboratories for the provision of IVD tests or clinical laboratory services by private laboratories in Singapore, are generally seen as the closest competitors to each other pre-Transaction.
At this stage, the Parties may offer commitments to address the potential competition concerns that may arise as a result of the Transaction, or the merger will proceed to a detailed Phase 2 review upon CCCS’s receipt of the relevant documents from PAH. Commitments may also be offered at any time during a Phase 2 review.