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Total revenues in the quarter were $629.2 million, beating the Wall Street estimate of $625.2 million.
Second quarter diagnostic revenues decreased 1 percent year over year to $1.18 billion as molecular diagnostics sales shrunk a fraction of a percent.
The test is the second to be waived for use on the Alere i isothermal nucleic acid amplification platform, and detects Group A Strep DNA in eight minutes or less.
Proceeds from the offering will be used to redeem $400 million of senior subordinated notes due in 2018.
The investment bank noted the potential of Alere's new MDx platforms, but said that Quest's potential could suffer in comparison to its competitor LabCorp.
The firm used about $1.68 billion of proceeds from the new term loans to repay existing secured credit facilities and transaction expenses.
Proceeds from the offering will be used to redeem $400 million outstanding in senior notes due 2018.
The company also restated its financial results for full-year 2014 and for the third quarter of 2014.
Alere missed the deadline to file its Form 10-Q as a result of having to restate its 2014 and interim financial results, prompting the warning from the NYSE.
Under the agreement, Abbott will create tests for two protein biomarkers that AstraZeneca hopes can predict asthma patients' response to its investigational drug tralokinumab.
The Washington Post reports on researchers' efforts to determine the effect of an increasingly common SARS-CoV-2 mutation.
Florida Politics reports Florida's law barring life, long-term care, and disability insurers from using genetic information in coverage decisions went into effect at the beginning of July.
A new analysis finds a link between popular media coverage of a scientific study and how often that paper is cited.
In Nature this week: CRISPR approaches to editing plant genomes, way to speed up DNA-PAINT, and more.