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AI brief of an SEC Form 8-K · Quest Diagnostics (DGX)

Quest Diagnostics agrees to buy Canada's LifeLabs from OMERS for $985 million

Neutral Impact 4 of 5 m&a Written later

Quest Diagnostics signed an agreement on July 2, 2024 to acquire LifeLabs, a Canadian provider of laboratory diagnostic services, from OMERS for about 1.35 billion Canadian dollars (about $985 million U.S.), including net debt. The company expects to fund the deal with cash on hand and debt, and expects it to close by the end of 2024, subject to customer consents and Canadian regulatory approvals.

Key points

  • Purchase price is about CAN $1.35 billion (about USD $985 million), including net debt, subject to customary adjustments.
  • The company expects the deal to add about CAN $970 million (about USD $710 million) in annual revenue.
  • Quest expects the deal to be slightly dilutive to GAAP EPS but accretive to adjusted EPS in the first 12 months after closing.
  • Closing is expected by the end of the year and depends on customer consents and Competition Act and Investment Canada Act conditions.

The filing

CompanyQuest Diagnostics (DGX)
Form8-K, current report
Filed with the SECJul 3, 2024, 9:18 AM ET
Accession number0000947871-24-000587

Items reported: 1.01 Material Definitive Agreement7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:10 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 03, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.