Quest Diagnostics Incorporated , the nation's leading provider of diagnostic testing, information, and services, announced today that it intends to offer $800,000,000 in aggregate principal amount in two series of senior notes, in a public offering made under a shelf registration statement filed with the Securities and Exchange Commission, subject to market and other conditions. The notes will be fully and unconditionally guaranteed on a senior, unsecured basis, by certain of the Company's domestic, wholly owned subsidiaries. Morgan Stanley & Co. Incorporated, Bank of America Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated will be joint book-running managers for the offering.
The Company expects the offering will be completed in June 2007. The issuance of the notes will be subject to customary closing conditions. The net proceeds of the offering are expected to be used, together with cash on hand, to repay all borrowings under the bridge loan facility incurred to pay a portion of the purchase price and transaction expenses of the previously announced acquisition of AmeriPath, Inc. Copies of the prospectus and the related preliminary prospectus can be obtained from Morgan Stanley & Co. Incorporated at 180 Varick Street, New York, New York 10014, Attention: Prospectus Department, 866-718-1649; Banc of America Securities LLC at 100 West 33rd Street, New York, New York 10001, Attention: Prospectus Department, 800-294-1322, or by email: dg.prospectus_distribution@bofasecurities.com; or Merrill Lynch, Pierce, Fenner & Smith Incorporated at 4 World Financial Center, New York, New York 10080, Attention: Prospectus Department, 866-500- 5408.
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any of these securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
About Quest Diagnostics
Quest Diagnostics is the leading provider of diagnostic testing, information and services that patients and doctors need to make better healthcare decisions. The company offers the broadest access to diagnostic testing services through its national network of laboratories and patient service centers, and provides interpretive consultation through its extensive medical and scientific staff. Quest Diagnostics is a pioneer in developing innovative new diagnostic tests and advanced healthcare information technology solutions that help improve patient care. Additional company information is available at www.questdiagnostics.com.
This communication contains certain forward-looking statements. These forward-looking statements are based on management's current expectations and estimates and involve risks and uncertainties that could cause actual results or outcomes to differ materially from those contemplated by the forward looking statements. Certain of these risks and uncertainties may include, but are not limited to, competitive environment, changes in government regulations, changing relationships with customers, payers, suppliers and strategic partners and other factors described in the Quest Diagnostics Incorporated 2006 Form 10-K and subsequent filings.
First Call Analyst:
FCMN Contact:
SOURCE: Quest Diagnostics Incorporated
CONTACT: Laure Park, Investor Relations, +1-201-393-5030, Nancy
Fitzsimmons, Media Relations, +1-201-393-5700, both of Quest Diagnostics
Incorporated
Web site: http://www.questdiagnostics.com/