Quest Diagnostics Plans to Sell HemoCue Testing System Division

In conjunction with its plan to refocus on diagnostic informational services, Quest Diagnostics (NYSE: DGX  ) announced Wednesday that it plans to sell its HemoCue diagnostic products division. Last month, the company sold off its OralDNA Labs business to Access Genetics as part of the same strategy.

HemoCue develops, produces, and sells testing systems that allow blood and urine tests to be run at the point of care rather than being sent to a centralized lab. OralDNA Labs helps dentists diagnose infections and HPV-related oral cancer.

Sales and profits from both divisions will now be reported as discontinued operations, reducing revenue by $117 million in 2012 and net income from continuing operations by $15 million. The company will take a charge of $89.5 million for the estimated asset impairment associated with HemoCue and the loss on the sale of OralDNA.

Quest released some more bad news ahead of reporting full fourth-quarter results on Jan. 23: The company estimates that Hurricane Sandy reduced revenue by $21 million and operating income by $16 million.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2199723, ~/Articles/ArticleHandler.aspx, 9/24/2016 10:03:19 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 1 day ago Sponsored by:
DOW 18,261.45 -131.01 -0.71%
S&P 500 2,164.69 -12.49 -0.57%
NASD 5,305.75 -33.78 -0.63%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/23/2016 4:00 PM
DGX $85.44 Down -0.29 -0.34%
Quest Diagnostics CAPS Rating: ****