Quest Diagnostics buys LabOne in $934M buyout

Quest Diagnostics is buying health screener LabOne of Lenexa, Kansas, for $934 million in cash and new debt. Quest is considered the dominant player in the health screening market and analysts cheered the union, saying that LabOne would bolster its presence in two key Midwestern markets. Quest and LabOne also do risk assessment work for health insurers.

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