"Bringing together two of the most respected diagnostic testing laboratories in
the New York City metropolitan area will enable us to offer patients, doctors
and hospitals the highest service levels available," said Kenneth W. Freeman,
Chairman and Chief Executive Officer of Quest Diagnostics. "We anticipate that
the transaction will be accretive to earnings per share in 2002."
Quest Diagnostics expects the transaction to produce a broad range of benefits
for customers, including: greater convenience and access to laboratory services;
superior levels of customer service; and expanded access to esoteric and
gene-based testing at Quest Diagnostics' Teterboro laboratory and its Nichols
Institute specialty testing laboratory in Southern California.
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 1,300 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 non-hospital-based 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 2000 Form 10-K and subsequent filings.
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X72471811
CONTACT: Investors - Cathy Doherty, +1-201-393-5030, or Media - Gary
Samuels, +1-201-393-5700, both of Quest Diagnostics Incorporated
URL: http://www.questdiagnostics.com
http://www.prnewswire.com
Copyright (C) 2001 PR Newswire. All rights reserved.