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Quest Diagnostics completes acquisition of Solstas

Staff writer |
Quest Diagnostics has completed the acquisition of Solstas Lab Partners Group and its subsidiaries (Solstas), a full-service commercial laboratory company based in Greensboro, North Carolina.

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The combination of Solstas with Quest Diagnostics will give patients and healthcare providers in the Southeastern United States, where Solstas operates in nine states, including the Carolinas, Virginia, Tennessee, Georgia and Alabama, greater access to innovative and cost-effective diagnostic information services.

In conjunction with the completion of the Solstas transaction, Quest Diagnostics is raising its full-year 2014 financial guidance for results from continuing operations, excluding special items.

Full year 2014 revenues are expected to increase 2% to 4% over the full year 2013, versus the prior guidance of flat to down 2%.

Adjusted earnings per diluted share are expected to be between $3.95 and $4.15, versus the prior guidance of between $3.90 and $4.10.

Updated guidance for the full year 2014 reflects unseasonably harsh winter weather conditions during February, which have negatively impacted Quest Diagnostics' performance. The company now estimates the impact of weather to first quarter adjusted earnings per diluted share to be approximately $0.10.

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