logo
Share SHARE
FONT-SIZE Plus   Neg

Quest Diagnostics To Sell HemoCue Diagnostic Products Business For $300 Mln

Quest Diagnostics (DGX: Quote), a provider of diagnostic information services, Monday said it has signed a definitive agreement to sell its HemoCue diagnostic products business to Radiometer Medical ApS for around $300 million plus customary adjustments for cash balances.

HemoCue develops, produces and markets hemoglobin, glucose and other point-of-care testing systems worldwide.

Steve Rusckowski, President and CEO of Quest Diagnostics, said, "The HemoCue divestiture, along with our sale of OralDNA in December 2012, demonstrates our commitment to refocus our business on diagnostic information services."

Quest plans to use the proceeds to repurchase around $300 million of its shares as part of its stock buyback program.

The transaction is expected to be completed in March.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
If calories are not reduced, exercise alone can have no effect on obesity, says British Sports Medicine, a peer-reviewed journal of sport and exercise medicine. The journal says the blame for expanding waist lines is directly on the type and amount of calories consumed and the poor diet generates more disease than physical inactivity, alcohol and smoking combined. Deutsche Bank (DB) on Sunday reported an about 50 percent decline in first-quarter profit, despite clocking double-digit revenue growth, as the German lender recorded hefty legal charges over allegations of rate-rigging. Casino operator Wynn Resorts said its shareholders ousted Elaine Wynn from the board, reflecting fears that her presence may lead to disharmony with the management.
comments powered by Disqus
Follow RTT