NEW YORK (GenomeWeb) – Quest Diagnostics announced it has completed efforts to refocus its business on diagnostic information services following six divestitures that have yielded $1 billion in proceeds.
The latest divestiture was Quest's sale of Focus Diagnostics' products business to DiaSorin for $300 million in cash. That transaction completed last week.
Quest said it plans to use the money from this transaction to repurchase its common stock. The company has repurchased $2 billion in common stock since 2012.