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$DGX said it completed the acquisition of Cleveland HeartLab. Pursuant to the deal, Quest has entered into collaboration with Cleveland Clinic to speed up commercialization of emerging innovations at Cleveland, including its Lerner Research Institute. The companies also plan to collaborate on clinical trials.
$DGX narrowed its FY17 outlook due to the impact of hurricanes in 3Q17. Revenue is now expected to be about $7.71Bil from the previous guidance of $7.69-7.74Bil. GAAP EPS is now expected in the range of $4.87-4.92, down from the earlier range of $4.90-5.00. On an adjusted basis, $DGX narrowed its FY17 EPS outlook to $5.62-5.67.
Medical diagnostic company $DGX has agreed to acquire Cleveland HeartLab from equity investors. The company intends to set up a national center of excellence in diagnostic information services at Cleveland HeartLab's laboratory. The all-equity transaction is expected to close in 4Q17. The financial details of the deal were not disclosed.
Diagnostics firm $DGX acquired the outreach lab services operations of William W Backus Hospital and The Hospital of Central Connecticut, both run by Hartford HealthCare. The acquisition is expected to enable physicians and patients to directly access Quest's broader range of testing services. Financial terms of the deal were not disclosed
Diagnostic information services provider $DGX said it expects a 1.5% reduction in revenues and a $0.10 per share impact on both reported and adjusted earnings in 3Q17, due to the recent hurricanes. The impact of the hurricanes is primarily attributable to operations in Florida and Texas, where the company has a large presence.
Medical diagnostics firm $DGX has completed the acquisition of laboratory businesses Med Fusion and Clear Point. They form the basis for Quest’s first national center of excellence in precision diagnostics for oncology. The company is now a preferred provider to several organizations that are formerly owners of one or both of the acquired entities.
$DGX signed a nonbinding letter of intent to buy the outreach laboratory services business of Cape Cod Healthcare (CCHC) for undisclosed terms. Upon approval by the Massachusetts Health Policy Commission, the organizations expect to complete the transaction by Jan. 1, 2018.
$DGX to acquire two laboratory businesses in Lewisville, Texas, aiming to establish a center of excellence providing diagnostic services to aid the detection and management of cancer for oncologists and patients. Upon transaction completion, $DGX will be a preferred provider of advanced oncology diagnostics for US Oncology Network.
$DGX raised its outlook for EPS in FY17 to $4.73-4.88 from the previous guidance of $4.65-4.80. Adjusted EPS was also raised to $5.45-5.60. The upgrades reflect higher-than-expected excess tax benefit related to stock-based compensation in 1Q17.