TETERBORO, N.J., Feb. 22 /PRNewswire/ -- Quest Diagnostics Incorporated
(NYSE: DGX), the nation's leading provider of diagnostic testing, information
and services, announced that its Board of Directors has approved a two-for-one
stock split, subject to stockholder approval of an increase in the number of
authorized shares of common stock. The stock split is expected to make the
company's common stock more attractive to a broader spectrum of investors.
The stock split will be effected by the issuance on May 31, 2001, of a
stock dividend of one new share of common stock for each share of common stock
held by stockholders of record on May 16, 2001. The company has approximately
47 million shares of common stock outstanding and its current charter
authorizes the issuance of 100 million shares of common stock. Stockholders
will be asked to approve an amendment to the company's certificate of
incorporation to increase the authorization to 300 million shares of common
stock at the company's 2001 Annual Meeting of Stockholders. The meeting is
scheduled to be held May 8, 2001, at 10:00 A.M. at the Waldorf-Astoria Hotel
in New York City. The record date for the 2001 Annual Meeting of Stockholders
is March 19, 2001.
Quest Diagnostics is the nation's leading provider of diagnostic testing,
information and services with $3.4 billion in annual revenues. The company's
diagnostic testing yields information that enables health care professionals
and consumers to make better decisions to improve health. Quest Diagnostics
offers patients and physicians the broadest access to diagnostic testing
services through its national network of approximately 30 full-service
laboratories, 150 rapid response laboratories and more than 1,200 patient
service centers, where specimens are collected. Quest Diagnostics is the
leading provider of esoteric testing, including gene-based testing, and is the
leader in routine medical testing, drugs of abuse testing, and anatomic
pathology testing. Through partnerships with pharmaceutical, biotechnology and
information technology companies, Quest Diagnostics provides support to help
speed the development of health care insights and new therapeutics. Additional
company information can be found on the Internet at:
http://www.questdiagnostics.com.
The statements in this press release which are not historical facts or
information may be forward-looking statements. These forward-looking
statements involve risks and uncertainties that could cause the outcome to be
materially different. Certain of these risks and uncertainties are listed in
the Quest Diagnostics Incorporated 1999 Form 10-K and subsequent filings.
SOURCE Quest Diagnostics Incorporated
CONTACT: Investors - Cathy Doherty, 201-393-5030, or Media - Gary
Samuels, 201-393-5700, both of Quest Diagnostics Incorporated/