logo
Plus   Neg
Share
Email

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 RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Each year, more than eight million children die from preventable diseases in countries with the worst health care systems . Kofi Annan, former head of the UN, said that, "Almost all these deaths will happen in developing countries. A large number of them could be prevented." You do not want to find... As Canada prepares to legalize marijuana nationwide later this year, a national survey by Statistics Canada has thrown up some interesting facts - including that legal marijuana is not a temptation for most Canadians. Regardless of cannabis use, 79 percent of Canadians surveyed said they would not be more likely to try or increase their cannabis consumption just because it is legalized. The Procter & Gamble Company (PG) reported third-quarter net earnings per share of $0.95, an increase of two percent versus the prior year. Net earnings from continuing operations declined 1% year-over-year to $2.54 billion. Core earnings per share increased four percent to $1.00. On average, 20 analysts...
Follow RTT