Slide 1: Safe Harbor Disclosure
Safe Harbor Disclosure This presentation may contain 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
Slide 2: History of Strong Cash Flows and Significant Return of Cash to Shareholders
History of Strong Cash Flows and Significant Return of Cash to Shareholders $1,200 $1,000 $800 $600 $400 $200 $0 2008 2009 2010 2011 2012 E - Free cash flow - Dividends - Share repurchases See GAAP to non-GAAP reconciliation on page 8 our new QUEST 5 Deliver Disciplined Capital Delpoyment 3
Slide 3: Disciplined Capital Deployment
Disciplined Capital Deployment Underpinning Capital Structure o Enabler of shareholder value creation o Maintain "strong BBB" investment grade credit rating Committed Deployment Operational Excellence o Invigorate o Systems standardization and automation o Footprint optimization Restore Growth o Too
Slide 4: Investments in Growth: Guidelines for Assessing Acquisitions
Investments in Growth Guidelines for Assessing Acquisitions Strategic Fit o Aligns with core assets o Strengthens capabilities or market presence o Operational readiness NPV o Material Value-creation: NPV substantially in excess of purchase price o Conservative discount rate consistent with long-ter
Slide 5: UMass Memorial: A Strategic Hospital Relationship
UMass Memorial: A Strategic Hospital Relationship o Value-creating transaction which provides improved market access o Relationship spurred by evolving market dynamics o Purchase of hospital outreach business expected to deliver meaningful cost synergies o Long-term relationship which will lower the
Slide 6: A Plan to Unlock Significant Shareholder Value
A Plan to Unlock Significant Shareholder Value Restore growth o Grow volumes through commercial excellence and strategic partnerships o Disease state focus to grow esoteric testing o Value creating fold in acquisitions o Low single digit growth through 2015, accelerating during the period - Offsetti
Slide 7: Regulation G Non-GAAP Reconciliation
Regulation G Non-GAAP Reconciliation The Company reports financial results in accordance with accounting principles generally accepted in the U.S. ("GAAP"). These presentation slides include free cash flow ("FCF"), which is a non-GAAP measure. The Company defines FCF as net cash provided by operatin
Slide 8: Regulation G Non-GAAP Reconciliation
Regulation G Non-GAAP Reconciliation The Company reports financial results in accordance with accounting principles generally accepted in the U.S. (“GAAP”). These presentation slides include free cash flow (“FCF”), which is a non-GAAP measure. The Company defines FCF as net cash provided by operatin