Feb. 25, 2013
/PRNewswire/ -- Quest Diagnostics (NYSE: DGX), the world's leading provider of diagnostic information services, today announced that it has signed a definitive agreement to sell its HemoCue diagnostic products business to Radiometer Medical ApS for a purchase price of approximately
plus customary adjustments for cash balances. HemoCue develops, produces and markets hemoglobin, glucose and other point-of-care testing systems worldwide.
"The HemoCue divestiture, along with our sale of OralDNA in
, demonstrates our commitment to refocus our business on diagnostic information services," said
, President and Chief Executive Officer of Quest Diagnostics. "We plan to use the proceeds to repurchase approximately
of Quest Diagnostics shares as part of our stock buyback program."
The transaction is expected to be completed in
, subject to customary closing conditions.
About Quest Diagnostics
Quest Diagnostics is the world's leading provider of diagnostic information services that patients and doctors need to make better healthcare decisions. The company offers the broadest access to diagnostic information services through its network of laboratories and patient service centers, and provides interpretive consultation through its extensive medical and scientific staff. Quest Diagnostics is a pioneer in developing innovative diagnostic tests and advanced healthcare information technology solutions that help improve patient care. Additional company information is available at
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Quest, Quest Diagnostics, and all associated Quest Diagnostics registered or unregistered trademarks are the property of Quest Diagnostics. All third-party marks are the property of their respective owners.
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