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Quest will buy Solstas Lab Partners for $570M

Quest Diagnostics will buy southeastern commercial lab operator Solstas for $570M

Associated Press

MADISON, N.J. (AP) -- Medical lab operator Quest Diagnostics said Wednesday it will buy Solstas Lab Partners for $570 million.

Quest said Solstas is based in Greensboro, N.C., and it runs commercial labs in nine states across the southeastern U.S. Quest said the deal should increase its annual revenue by about 5 percent, and it will make a small addition to adjusted net income in 2014. It said the purchase should close during the first half of the year.

Solstas is owned by private equity firm Welsh, Carson, Anderson and Stowe.

Quest Diagnostics Inc. is scheduled to report its fourth-quarter results before the market opens on Jan. 30. The company's shares rose 21 cents to $54.74 in morning trading.