Quest Diagnostics (DGX) To Acquire Focus Diagnostics For $185 Million

May 19, 2006 8:05 AM EDT
Quest Diagnostics Inc (NYSE: DGX) has agreed to acquire Focus Diagnostics, Inc., the premier infectious disease testing provider, in a cash transaction valued at approximately $185 million. Focus Diagnostics is privately held and based in Herndon, Virginia. The acquisition will add annual revenues of approximately $65 million.

Focus Diagnostics is a portfolio company of private equity firms DLJ Merchant Banking and The Sprout Group. Excluded from the transaction is Focus Bio-Inova, Focus Diagnostics' pharmaceutical testing operation.

The acquisition is not expected to have a material impact on Quest Diagnostics' 2006 earnings per share, excluding anticipated charges associated with the transaction.

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