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

Editors Pick
L'Oreal Co (LRLCY.PK) on Thursday reported an increase in profit for the first half of 2015, driven by growth in North America and new markets, and favorable currency helping results. The French cosmetics company said that on the back of comprehensive growth, it is making investments in the digital... Starwood Hotels & Resorts Worldwide, Inc. (HOT) said Thursday that its second quarter profit fell 11% from last year, hurt by lower revenue as well as restructuring and special charges. However, the company's quarterly earnings per share, excluding items, came in above analysst' expectations as did... Home buyers seem to be reaping the benefits of attractive mortgage rates, with the average 30-year fixed mortgage rate ducking just under four percent, a report from Freddie Mac said Thursday.
comments powered by Disqus
RELATED NEWS
Trade DGX now with 
Follow RTT