Quest Diagnostics to buy Solstas for $570 mln

Wed Jan 22, 2014 9:40am EST

Jan 22 (Reuters) - Quest Diagnostics Inc, a provider of laboratory test services, said it would buy Solstas Lab Partners Group for about $570 million to expand into the U.S. Southeast.

Quest said it expected the deal to add about 5 percent to annualized revenue as well as add modestly to adjusted earnings in 2014.

Solstas, owned by private equity firm Welsh, Carson, Anderson and Stowe, operates in nine states including North and South Carolina, Virginia, Tennessee, Georgia and Alabama.

Quest shares were up 0.2 percent at $54.64 in early trading on the New York Stock Exchange.

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