Danish healthcare company Radiometer Medical has purchased Quest Diagnostics' HemoCue diagnostic products business for $300m plus customary adjustments for cash balances.
Quest will use the proceeds to repurchase approximately $300m of its shares as part of the stock buyback program.
The divestment of the non-core business assets will allow Quest to focus on its diagnostic information services business.
The Swedish diagnostic company HemoCue develops, produces and markets hemoglobin, glucose and other point-of-care testing systems, while Radiometer provides technologically advanced acute care solutions that simplify and automate all phases of acute care testing.
Source:
http://contractservices.medicaldevices-business-review.com/news/radiometer-takes-over-quest-hemocue-diagnostic-products-business-100413
