Full Press Release Details
11, 2020 /PRNewswire/ -- Quest Diagnostics Incorporated (NYSE: DGX), the world's leading provider of diagnostic information
services, announced today the pricing of a public offering of $550 million aggregate principal amount of its 2.800% senior
notes due 2031 under Quest Diagnostics' shelf registration statement.
Quest Diagnostics expects
to receive the net offering proceeds upon closing on May 13, 2020, subject to customary closing conditions. The company intends
to use the net proceeds from the offering for general corporate purposes, which may include the repayment of indebtedness. The
indebtedness the company may repay with the net proceeds of the offering includes the company's $550 million aggregate
principal amount of 4.70% senior notes due 2021 and outstanding borrowings under the company's senior unsecured revolving credit
facility and secured receivables credit facility.
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. This offering
may be made only by means of a prospectus supplement and accompanying base prospectus, copies of which or information concerning
this offering may be obtained by calling Goldman Sachs & Co. LLC, collect at 1 (212) 902-1171, J.P. Morgan Securities LLC, collect
at 1 (212) 834-4533 or Mizuho Securities USA LLC, toll-free at 1 (866) 271-7403.
Quest Diagnostics empowers people to take action to improve health outcomes. Derived from the world's largest database
of clinical lab results, our diagnostic insights reveal new avenues to identify and treat disease, inspire healthy behaviors and
improve health care management. Quest Diagnostics annually serves one in three adult Americans and half the physicians and hospitals
in the United States, and our 47,000 employees understand that, in the right hands and with the right context, our diagnostic
insights can inspire actions that transform lives. www.QuestDiagnostics.com.
About COVID-19 Testing
by Quest Diagnostics
Quest Diagnostics is at the forefront of response to the COVID-19 pandemic, working to broaden access to laboratory insights
to help us all lead healthier lives. We provide both
molecular diagnostic
and antibody serology tests to aiding the diagnosis of COVID-19 and immune response. Our COVID-19 test services are based on tests
that have received or are expected to receive FDA emergency use authorization and which also meet our high standards for quality.
We provide data on COVID-19 testing to various federal and state public health authorities, including the Centers for Disease Control
and Prevention, and participate in studies with government and private institutions, aiding COVID-19 public health response and
research. Through our team of dedicated phlebotomists, couriers, air fleet team, and laboratory professionals, Quest Diagnostics
won't stop until quality testing is broadly available to patients and communities across the United States.
information about the latest developments with our COVID-19 testing, visit: newsroom.questdiagnostics.com/COVIDTestingUpdates
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, impacts of the COVID-19 pandemic and measures taken in response, adverse results from pending or future government investigations,
lawsuits or private actions, the competitive environment, the complexity of billing, reimbursement and revenue recognition for
clinical laboratory testing, changes in government regulations, changing relationships with customers, payers, suppliers or strategic
partners and other factors discussed in the company's most recently filed Annual Report on Form 10-K and in any of the company's
subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, including those discussed in the "Business,"
"Risk Factors," "Cautionary Factors that May Affect Future Results" and "Management's Discussion and Analysis
of Financial Condition and Results of Operations" sections of those reports.
SOURCE Quest Diagnostics
For further information:
For further information: Denny Moynihan, Quest Diagnostics (Media): 973-520-2800, Shawn Bevec, Quest Diagnostics (Investors): 973-520-2900