Sumitomo invests in Quest Health Solutions, enters U.S. healthcare market
NEW YORK and FLORIDA, UNITED STATES — Sumitomo Corporation of Americas (SCOA), a subsidiary of Sumitomo Corporation, has announced an investment in Vast Medical Holdings, the parent company of Quest Health Solutions (Quest).
The partnership aims to improve patient outcomes and manage the needs of chronic-care patients, particularly those with diabetes.
Addressing the growing diabetes epidemic
Quest Health Solutions is a key player in diabetes care, offering a range of services that connect patients, healthcare providers, medical device manufacturers, and health insurers. The company provides continuous glucose monitors (CGM) and related products directly to patients.
Through its sister companies, Quest Health Remote Care and Quest Health RPM Services, Quest integrates CGM data with clinical support services including patient education, meal planning, and exercise guidance, aiming to enhance health outcomes.
“Finding a partner who believes in our model was critical to our priorities and our quest for continuous improvement in patient care,” said Adam Nadler, CEO and Co-Founder of Quest Health Solutions.
“As 10,000 Americans age into Medicare daily, many prefer home care to avoid costly hospitalizations. We expect our partnership to enhance the trust that tens of thousands of consumers place in our services. Delivering necessary medical equipment leads to better patient outcomes and reduced healthcare costs.”
The investment comes at a critical time, as the Centers for Disease Control and Prevention report that 11.6% of the U.S. population, or 38.4 million people, currently live with diabetes.
This number is expected to rise, with estimates suggesting that up to 40% of Americans may be living with diabetes or prediabetes in the near future.
Expanding global healthcare initiatives
Jeremy Yap, General Manager of the Healthcare Group and Business Development Group at SCOA, expressed enthusiasm about the partnership, stating, “We have found an ideal partner to mark our entry into the U.S. healthcare market. The scope of Quest Health Solutions’ operations aligns well with our business strategy and supports our focus on improving health outcomes and providing greater access to healthcare resources.”
Although terms of the investment remain confidential, it is expected to strengthen Sumitomo’s position in the healthcare market and enhance the quality of life for patients with chronic diseases while addressing the challenge of rising medical expenses through innovative, data-driven healthcare solutions.
While this marks Sumitomo Corporation Group’s first healthcare services investment in the U.S., the company has been active in the global healthcare industry for decades. The group operates businesses in Japan and Southeast Asia, including drugstores, managed care, and clinics.
Sumitomo Corporation, a global integrated trading company, operates in 66 countries with approximately 900 companies and 80,000 employees on a consolidated basis. Its U.S. subsidiary, SCOA, established in 1952, has offices across North America and is involved in various sectors, including energy, automotive, and social infrastructure.
