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Stock impact report

U.S.-based Quest Diagnostics buys Lifelabs for $1.35-billion [Globe and Mail, The (Toronto, Canada)]

Quest Diagnostics Incorporated (DGX) 
Last quest diagnostics incorporated earnings: 4/22 06:45 am Check Earnings Report
US:NYSE Investor Relations: ir.questdiagnostics.com
Toronto-based pension fund Ontario Municipal Employees Retirement System (OMERS) has reached a deal to sell the country's largest medical testing company, LifeLabs Medical Laboratory Services, to U.S.-based Quest Diagnostics Inc. for $1.35-billion including debt. LifeLabs will keep its brand, its Canadian headquarters and its management team after the acquisition closes, which is expected to happen by the end of the year, subject to regulatory approvals. Quest also plans to keep patients' health data stored in Canada, according to a joint statement. LifeLabs is Canada's leading laboratory testing company, performing 112 million tests each year at 382 collection centres and 16 laboratories in Ontario, British Columbia and Saskatchewan and employing 6,500 staff. After the deal closes, Canada's highly concentrated market for lab testing will be even further controlled by U.S. owners. LifeLabs's major domestic rival, Dynacare, is owned by one of the largest U.S. medical testing com Show less Read more
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