Quest profit misses estimates, deals to drive growth

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Quest profit misses estimates, deals to drive growth

(Reuters) - Laboratory tests provider Quest Diagnostics Inc, whose earnings have been hurt by Medicare reimbursement cuts, said growth this year will be driven by acquisitions. The No. 1 U.S. laboratory testing company has been implementing a $500 million restructuring program to restore growth and improve operational efficiency as hospital operators buy up physician practices, cutting into its customer base. The company announced on Wednesday its second deal this year to expand services to people who live in remote areas and do not have easy access to such services. ...

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