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Quest Diagnostics Buys HemoCue for 420M
Listen to this articleQuest Diagnostics in Lyndhurst, one of the largest providers of diagnostic medical testing and services, acquired Angelholm, SwedenÂs HemoCue, a provider of so-called near patient testing, for $420 million. EQT II, a group of private equity funds, sold HemoCue to Quest. The deal will put Quest into the near patient, also known as point-of-care,…Quest Diagnostics (NYSE: DGX) in Lyndhurst, one of the largest providers of diagnostic medical testing and services, acquired Angelholm, SwedenÂs HemoCue, a provider of so-called near patient testing, for $420 million. EQT II, a group of private equity funds, sold HemoCue to Quest. The deal will put Quest into the near patient, also known as point-of-care, testing market. The company is financing the acquisition with a new credit facility. HemoCue generates $90 million in annual revenue and has an emphasis in testing hemoglobin levels. Shares of Quest Diagnostics were down $0.15 to $52.48 in morning trading.
