Navigation Links
Quest Diagnostics Agrees to Repurchase 15.4 Million Shares From Largest Shareholder
Date:1/31/2011

MADISON, N.J., Jan. 31, 2011 /PRNewswire/ -- Quest Diagnostics Incorporated (NYSE: DGX) today announced that it had agreed to repurchase at a negotiated price 15.4 million shares of its common stock from its largest shareholder, an affiliate of GlaxoSmithKline plc (GSK). Subsequent to the transaction, GSK will no longer hold any shares of common stock of Quest Diagnostics.

"Through this transaction, we are taking advantage of a unique opportunity to enhance shareholder value and demonstrating confidence in the long term outlook for our business," said Surya N. Mohapatra, Chairman and CEO of Quest Diagnostics. "We continue to maintain the financial flexibility to pursue acquisitions, which remains a key element of our growth strategy."

Quest Diagnostics will repurchase the shares using a combination of cash on hand and borrowing through available credit facilities. The repurchase will be applied against the company's current $1 billion share repurchase authorization.

As a result of this transaction, the company is raising its 2011 guidance for diluted earnings per share before special items to be between $4.25 to $4.45. Previous guidance was $4.10 to $4.30.

About Quest Diagnostics

Quest Diagnostics is the world's leading provider of diagnostic testing, information and services that patients and doctors need to make better healthcare decisions. The company offers the broadest access to diagnostic testing 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 www.QuestDiagnostics.com.'/>"/>

SOURCE Quest Diagnostics Incorporated
Copyright©2010 PR Newswire.
All rights reserved

Page: 1 2

Related medicine technology :

1. Quest Diagnostics Introduces ClariSure(TM) Test for Identifying Chromosome Abnormalities Associated With 85 Developmental Disorders in Children
2. VioQuest Pharmaceuticals Completes Enrollment of Phase I Trial of Lenocta(TM)
3. Two Point of Care Tests From Quest Diagnostics Receive FDA 510(k) Clearance
4. Video: Quest Diagnostics Health Trends(TM) Report Shows Significant Gap in Care for Patients With Chronic Kidney Disease
5. VioQuest Pharmaceuticals Announces Dosing of First Patient in Phase IIa Solid Tumor Study for Lenocta(TM), a Novel Protein Tyrosine Phosphatase Inhibitor
6. Centocor and Janssen-Cilag Submit Applications Requesting Approval of Ustekinumab in the U.S. and Europe for Treatment of Moderate to Severe Plaque Psoriasis
7. U.S. Patent Office Rejects Key HIV/AIDS Drug Patents at PUBPAT Request: Government Finds Prior Art Submitted By PUBPAT Invalidates All of Gilead Sciences Claims
8. Portrait(R) Plasma - A New Non-Surgical Option for one of the Most Requested Aesthetic Treatment - Aging Eyes
9. CSL Behring Submits BLA Requesting Approval of C1-Esterase Inhibitor for the Treatment of Hereditary Angioedema
10. BRAVE-3 Questions Value of Abciximab in PCI for Heart Attack
11. ImQuest Publishes Results of Important Structure Activity Relationship Program on Dual Acting Pyrimidinediones
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/2/2014)... 2, 2014  MinuteClinic, the largest and fastest growing provider of ... has opened its first walk-in clinics in the Corpus ... Corpus Christi and Portland . ... in December. The clinics are part of MinuteClinic,s ... With the Corpus Christi -area openings, there are ...
(Date:10/2/2014)... 2, 2014   Mast Therapeutics, Inc. (NYSE ... Edwin L. Parsley , D.O. has joined the ... President.  Dr. Parsley has been actively engaged ... in February 2014.  He has served as Mast,s interim ... Medical Officer of Aires since April 2011.  Dr. Parsley ...
(Date:10/1/2014)... CITY, Calif. , Oct. 1, 2014  Abaxis, ... company manufacturing point-of-care instruments and consumables for the medical, ... services to the veterinary and research markets in ... has entered into a definitive distribution agreement with Patterson ... market and promote the full line of Abaxis veterinary ...
Breaking Medicine Technology:First MinuteClinic Walk-in Medical Clinics Open in Corpus Christi 2First MinuteClinic Walk-in Medical Clinics Open in Corpus Christi 3Mast Therapeutics Announces Appointment Of Chief Medical Officer 2Mast Therapeutics Announces Appointment Of Chief Medical Officer 3Mast Therapeutics Announces Appointment Of Chief Medical Officer 4Abaxis Announces Distribution Agreement with Patterson Veterinary Supply 2Abaxis Announces Distribution Agreement with Patterson Veterinary Supply 3Abaxis Announces Distribution Agreement with Patterson Veterinary Supply 4
... /PRNewswire-Asia/ -- Chindex International, Inc. (Nasdaq: CHDX ... providing health care services in China through the operations ... primary care hospitals and affiliated ambulatory clinics, today announced ... ended December 31, 2010. Presentation of ...
... American Association for Homecare strongly endorses bipartisan legislation to ... program for home medical equipment and services (durable medical ... Glenn Thompson (R-Pa.) and Jason Altmire (D-Pa.) on March ... Bidding Act."   Tyler Wilson, president ...
Cached Medicine Technology:Chindex International, Inc. Reports Financial Results for the Three and Nine Month Period Ended December 31, 2010 2Chindex International, Inc. Reports Financial Results for the Three and Nine Month Period Ended December 31, 2010 3Chindex International, Inc. Reports Financial Results for the Three and Nine Month Period Ended December 31, 2010 4Chindex International, Inc. Reports Financial Results for the Three and Nine Month Period Ended December 31, 2010 5Chindex International, Inc. Reports Financial Results for the Three and Nine Month Period Ended December 31, 2010 6Chindex International, Inc. Reports Financial Results for the Three and Nine Month Period Ended December 31, 2010 7Chindex International, Inc. Reports Financial Results for the Three and Nine Month Period Ended December 31, 2010 8Chindex International, Inc. Reports Financial Results for the Three and Nine Month Period Ended December 31, 2010 9Chindex International, Inc. Reports Financial Results for the Three and Nine Month Period Ended December 31, 2010 10Home Medical Equipment Group Supports Bipartisan Bill to Repeal the Controversial Medicare 'Competitive' Bidding Program for Homecare 2Home Medical Equipment Group Supports Bipartisan Bill to Repeal the Controversial Medicare 'Competitive' Bidding Program for Homecare 3
(Date:10/2/2014)... 2014 Robins & Morton received ... Builders and Contractors (ABC) of Alabama. , ABC ... held at Sheraton Birmingham Hotel., , ... Million to $25 Million, Obelisk Award (First Place) ... Government $10 Million to $25 Million, Obelisk Award ...
(Date:10/2/2014)... Australia (PRWEB) October 02, 2014 ... markets, organic food is becoming increasingly popular with ... Organic Livestock and Poultry Farming industry in ... “the popularity of organic meat has surged over ... and expansion at the farming level.” Over the ...
(Date:10/2/2014)... HealthDay Reporter WEDNESDAY, Oct. 1, 2014 (HealthDay ... long-acting implanted devices -- could slash pregnancy and abortion rates ... In a study of 1,400 teenage girls, researchers found ... of unplanned pregnancy and abortion. Over three years, their annual ... rate of 158 per 1,000 among all sexually active teenage ...
(Date:10/2/2014)... have pinpointed a molecule that may trigger potentially life-threatening ... say this finding could offer a target for new ... Most asthma attacks (80 percent to 90 percent) are ... the British researchers. Most of these are rhinoviruses, which ... The researchers found that a specific molecule called IL-25 ...
(Date:10/2/2014)... WEDNESDAY, Oct. 1, 2014 (HealthDay News) -- Children with ... but they,re fully capable of being more active, a ... activity levels of 29 children, some with autism and ... per day of moderate physical activity and 70 more ... The 17 children with autism scored lower on strength, ...
Breaking Medicine News(10 mins):Health News:Robins & Morton wins nine awards from Associated Builders and Contractors 2Health News:Organic Livestock and Poultry Farming in Australia Industry Market Research Report Now Available from IBISWorld 2Health News:Organic Livestock and Poultry Farming in Australia Industry Market Research Report Now Available from IBISWorld 3Health News:Organic Livestock and Poultry Farming in Australia Industry Market Research Report Now Available from IBISWorld 4Health News:Free, Long-Acting Contraceptives May Greatly Reduce Teen Pregnancy Rate 2Health News:Free, Long-Acting Contraceptives May Greatly Reduce Teen Pregnancy Rate 3Health News:Free, Long-Acting Contraceptives May Greatly Reduce Teen Pregnancy Rate 4Health News:New Clues to How Colds Can Spur Asthma Attacks 2Health News:Kids With Autism Tend to Be Less Active, Study Says 2
... hospitals throughout Indiana are now connected ... Physicians and patients at the Howard Regional Health ... from the clinical information exchanged through Indiana Health ... health care providers have implemented IHIE,s secure, Web-based ...
... Frost & Sullivan presented 20 awards ... sector at the 2009 Frost & Sullivan ... today at the InterContinental hotel in Singapore. (Logo: ... the awards banquet recognised companies across pharmaceuticals, clinical ...
... turning to a new trend to let others ... A case report will be presented Friday, May ... (AACE) 18th Annual Meeting & Clinical Congress shedding ... from the medical community. (Logo: http://www.newscom.com/cgi-bin/prnh/20090324/DC88061LOGO-b ...
... for Leadership Vision and Achievements in Advancing Health ... The Workgroup for Electronic Data Interchange is honoring ... Halvorson, with the 2009 Louis Sullivan Award. ... through their leadership vision and achievements in advancing ...
... in Mid-Atlantic RegionDENVER, April 21 Global ... "Company") (OTC Bulletin Board: GLOB), an international ... its Wyndgate Technologies(R) division has licensed its ... Donor Doc(TM) electronic donor history questionnaire to ...
... Care Brand Gains Another Top RecognitionFORT WORTH, Texas, ... moisturizers, currently the #1 Dermatologist Recommended brand of ... pediatricians. Cetaphil(R) products are specially formulated to provide ... look and feel its best, and the brand ...
Cached Medicine News:Health News:Kokomo Hospitals Implement Indiana Health Information Exchange Clinical Messaging Service 2Health News:Kokomo Hospitals Implement Indiana Health Information Exchange Clinical Messaging Service 3Health News:Outstanding Healthcare Companies in Asia Pacific Honored 2Health News:Outstanding Healthcare Companies in Asia Pacific Honored 3Health News:Outstanding Healthcare Companies in Asia Pacific Honored 4Health News:Outstanding Healthcare Companies in Asia Pacific Honored 5Health News:New Research Reveals Need for Doctors to Know About Medical Tattoos 2Health News:Kaiser Permanente CEO George Halvorson Receives National Award From the Workgroup for Electronic Data Interchange 2Health News:Kaiser Permanente CEO George Halvorson Receives National Award From the Workgroup for Electronic Data Interchange 3Health News:Global Med Technologies(R) Licenses ElDorado(TM) Software Solutions to $3.5 Billion MedStar Health of Baltimore, MD 2Health News:Global Med Technologies(R) Licenses ElDorado(TM) Software Solutions to $3.5 Billion MedStar Health of Baltimore, MD 3Health News:Global Med Technologies(R) Licenses ElDorado(TM) Software Solutions to $3.5 Billion MedStar Health of Baltimore, MD 4Health News:Cetaphil(R) Cleansers and Moisturizers Now the #1 Pediatrician Recommended Brand 2