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Quintiles, Quest to combine clinical trial lab operations

(Reuters) - Medical tests maker Quest Diagnostics Inc and contract research company Quintiles Transnational Holdings Inc said they were combining their clinical trial laboratory operations in a joint venture. Quintiles will own 60 percent of the joint venture, with Quest owning the rest, the companies said on Tuesday. Financial terms of the deal were not disclosed. The combined revenue of the joint venture would have been about $575 million in 2014, the companies said. Quintiles, the world's largest contractor for outsourced clinical studies, provides services such as clinical trial data analysis. The transaction is expected to close in the third quarter of 2015, the companies said. Quest Diagnostics shares closed at $77.69 on Monday on the New York Stock Exchange, while Quintiles shares closed at $68.00. (Reporting by Vidya L Nathan in Bengaluru; Editing by Kirti Pandey)