Quest Diagnostics Inc. (NYSE:DGX) entered into a definitive purchase agreement Summit Health, Inc. for approximately $140 million on March 11, 2014. The consideration includes, $113 million in cash, net of $1 million cash acquired paid at closing and contingent consideration of up to $25 million to be paid in 2016 based on the achievement of certain financial performance benchmarks. The transaction is subject to the satisfaction of regulatory and other customary closing conditions and is expected to complete in the first half of 2014. Benjamin Sibbett, Howard Adler, Don Carden, Jeff Butler, Vicky Manthas, Daryl Fairbairn, Tim Cornell, Paul Wellington, Michelle Pham, Carla Gorniak and Eric Naftel of Clifford Chance US, LLP acted as legal advisors to Summit Health, Inc. Bass, Berry & Sims acted as legal advisor for Quest Diagnostics.

Quest Diagnostics Inc. (NYSE:DGX) completed the acquisition of Summit Health, Inc. on April 18, 2014.