Quest Diagnostics Plans to Sell HemoCue Diagnostic Products Business as Part of its Strategy to Refocus on Diagnostic

 Quest Diagnostics Plans to Sell HemoCue Diagnostic Products Business as Part
        of its Strategy to Refocus on Diagnostic Information Services

-- Fourth Quarter Charge to be Recorded in Discontinued Operations --

-- Company Finalizes Estimated Impact from Hurricane Sandy --

PR Newswire

MADISON, N.J., Jan. 16, 2013

MADISON, N.J., Jan.16, 2013 /PRNewswire/ --Quest Diagnostics Incorporated
(NYSE: DGX), the world's leading provider of diagnosticinformationservices,
today announced that it plans to sell its HemoCue diagnostic products
business, as part of the company's strategy to refocus on diagnostic
information services. HemoCue develops, produces and markets point-of-care
testing systems. As a result, Quest Diagnostics will report 2012 and 2011
results for HemoCue and its OralDNA products business, which was sold in
December, 2012, as discontinued operations in its report of fourth quarter
2012 results, and take related after-tax charges in discontinued operations
for the estimated asset impairment associated with HemoCue and the loss on
sale associated with OralDNA, totaling $89.5 million, or $0.56 per diluted
share, in the period.

The company's consolidated income statements for the full-year 2012 and 2011
will present the operating results of HemoCue and OralDNA as discontinued
operations. As such, results from continuing operations will be reduced as

  oRevenues by $117 million in 2012 and $119 million in 2011;
  oOperating income by $11 million in 2012 and $8 million in 2011;
  oNet income from continuing operations by $15 million in 2012 and $13
    million in 2011; and
  oEarnings per diluted share by $0.09 in 2012 and $0.08 in 2011.

Separately, the company today also announced it had finalized its analysis of
the impact of Hurricane Sandy on its business, determining that fourth quarter
2012 revenues were reduced by an estimated $21 million, operating income by an
estimated $16 million and earnings per diluted share by an estimated $0.06.

Quest Diagnostics will report fourth quarter and full-year 2012 results and
provide financial guidance for 2013 on Wednesday, January 23, 2013 before the
market opens. It will hold its quarterly conference call to discuss the
results beginning at 8:30 a.m. Eastern Time on that day. Anyone listening to
the call is encouraged to read the company's periodic reports, on file with
the Securities and Exchange Commission, including the discussion of risk
factors and historical results of operations and financial condition in those

The conference call can also be accessed in listen-only mode by dialing
415-228-4961, passcode 3214469. The company suggests participants dial in
approximately 10 minutes before the call. A replay of the call may be
accessed online at or by phone at
800-835-4610 for domestic callers, or 203-369-3352 for international callers.
Telephone replays will be available from 10:30 a.m. Eastern Time on January 23
until midnight Eastern Time on February 23, 2013.

About Quest Diagnostics

Quest Diagnostics is the world's leading provider of diagnostic
informationservices that patients and doctors need to make better healthcare
decisions. The company offers the broadest access to diagnostic testing
services through its network of laboratories and patient service centers, and
providesinterpretive consultation through its extensive medical and
scientific staff. Quest Diagnostics is a pioneer in developing innovative
diagnostic tests and advanced healthcare information technology solutions that
help improve patient care. Additional company information is available at

Forward Looking Statements

The statements in this press release which are not historical facts may be
forward-looking statements. Readers are cautioned not to place undue reliance
on forward-looking statements, which speak only as of the date that they are
made and which reflect management's current estimates, projections,
expectations or beliefs and which involve risks and uncertainties that could
cause actual results and outcomes to be materially different. Risks and
uncertainties that may affect the future results of the company include, but
are not limited to, adverse results from pending or future government
investigations, lawsuits or private actions, the competitive environment,
changes in government regulations, changing relationships with customers,
payers, suppliers and strategic partners and other factors discussed in
"Business," "Risk Factors," "Cautionary Factors that May Affect Future
Results," "Legal Proceedings," "Management's Discussion and Analysis of
Financial Condition and Results of Operations," and "Quantitative and
Qualitative Disclosures About Market Risk" in the company's 2011 Annual Report
on Form 10-K and "Management's Discussion and Analysis of Financial Condition
and Results of Operations," "Quantitative and Qualitative Disclosures About
Market Risk," and "Risk Factors" in the company's Quarterly Reports on Form
10-Q and other items throughout the Form 10-K and the company's 2012 Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K.

Kathleen Valentine (Investors): 973-520-2900
Wendy Bost (Media): 973-520-2800

SOURCE Quest Diagnostics Incorporated

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