logo
Share SHARE
FONT-SIZE Plus   Neg

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

Quest Diagnostics (DGX), 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
Computer and printer maker Hewlett-Packard Co. said Thursday after the markets closed that its second quarter profit fell 21% from last year, hurt by lower revenue and costs related to the planned separation of the company. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. Accounting software maker Intuit reported a plunge in third-quarter profit, hurt by impairment charges, even as results topped Wall Street estimates, driven by growth in small business segment amid a strong tax season. Struggling teen-apparel retailer Aeropostale Inc. (ARO), Thursday said its first-quarter loss narrowed from a year ago, driven largely by stronger margins even as revenues continued to plunge dropped. Nevertheless, the company lost almost one-fifth of its market value in after-hours trade, with the...
comments powered by Disqus
Follow RTT