MADISON, N.J., 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 $300 million plus customary adjustments for cash balances. HemoCue develops, produces and markets hemoglobin, glucose and other point-of-care testing systems worldwide.
In February 2013, Quest Diagnostics announced it had entered into a definitive agreement to sell HemoCue to Radiometer, with plans to use the proceeds to repurchase approximately $300 million 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 QuestDiagnostics.com. Follow us at Facebook.com/QuestDiagnostics and
SOURCE Quest Diagnostics
Copyright©2012 PR Newswire.
All rights reserved
Related medicine technology :
1. Recreational Marijuana Users More Likely To Misuse Prescription Drugs, According to National Study by Quest Diagnostics
2. Quest Diagnostics To Release First Quarter 2013 Financial Results On April 17
3. Prescription Drug Misuse Remains at Alarming Levels, According to National Study by Quest Diagnostics
4. National Cancer Organizations Issue Joint Statement On Devastating Impact Of Sequestration
5. Phonak Expands Its Quest Platform with New Product Lines
6. Quest Diagnostics Names Sukumar Nagendran, M.D., Vice President, Medical Affairs
7. Disinfectant Qualification Questions are Answered for Sterile Drug Manufacturers in New White Paper
8. Quest Diagnostics Launches Dementia Diagnostic Panel, First in Industry for Treatable Forms of Cognitive Impairment Based on Medical Guidelines
9. Pancreatic Cancer Action Network Opposes Sequestration Cuts To National Institutes Of Health & Cancer Research Grants
10. Questcor Reports Fourth Quarter and Full Year 2012 Results
11. Quest Diagnostics to Sell HemoCue Business to Radiometer Medical ApS