April 9, 2013
/PRNewswire/ -- Quest Diagnostics (NYSE: DGX), the world's leading provider of diagnostic information services, today announced that it has completed the sale of 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.
, Quest Diagnostics announced it had entered into a definitive agreement to sell HemoCue to Radiometer, with plans to use the proceeds to repurchase approximately
of Quest Diagnostics shares as part of the company's stock buyback program.
The transaction follows an announcement by Quest Diagnostics late last year that it would seek strategic alternatives for certain non-core business assets in order to concentrate on its diagnostic information services business. In December 2012, the company divested OralDNA Labs.
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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