A Medical Device Daily

Quest Diagnostics (Madison, New Jersey) reported the pricing of its tender offer to buy back senior notes due 2010 and 2011.

The company said it will pay $1,037.19 for each $1,000 principal amount of its 5.125% notes due 2010. It will also pay $1,099.40 for each $1,000 principal amount of its 7.50% notes due 2011.

The tender offer will expire today, unless extended, Quest said.

BofA Merrill Lynch will serve as global coordinator and joint lead dealer manager and Morgan Stanley, RBS and Wells Fargo Securities will serve as joint lead dealer managers. Global Bondholder Services will serve as the depositary and as the information agent for the tender offer.

In other financing activity:

• Emergency Medical Services Corporation (EMSC; Greenwood Village, Colorado) said it intends to commence a public secondary offering of 6 million shares of class A common stock.

The company said it would not receive any proceeds from the offering. The shares are being offered primarily by affiliates of Onex. The Onex entities' shares represent roughly 26% of the Onex entities' equity interests in EMSC. After giving effect to this offering, the Onex entities will own about 39% of the equity interests in EMSC and about 86% of the combined voting power.

BofA Merrill Lynch, Goldman, Sachs & Co. and J.P. Morgan Securities are acting as joint bookrunners for the offering. The underwriters will have a 30-day option to purchase up to an additional 15% of the offered amount of the class A common stock sold.

• HealthSouth (Birmingham, Alabama) reported the pricing of its underwritten public offering of $290 million in aggregate principal amount of its 8.125% senior notes due Feb. 15, 2020 at a public offering price of 98.327% of the principal amount. The company will pay interest on the notes semi-annually in arrears on Feb. 15 and Aug. 15 of each year, beginning in 2010. The notes will be jointly and severally guaranteed on a senior unsecured basis by all of its existing and future subsidiaries that guarantee borrowings under the company's credit agreement and certain of its outstanding senior notes.

The company intends to use the net proceeds from this offering, together with cash on hand, to fund its tender offer for all of its outstanding floating rate senior notes due 2014, including any applicable accrued and unpaid interest on such notes, and to redeem any floating rate senior notes due 2014 that may remain outstanding following completion of the tender offer, including the payment of any applicable accrued and unpaid interest on such notes. The notes offering is expected to close Dec. 1 and is conditioned upon the acceptance for purchase by the company of notes tendered in the tender offer prior to 5 p.m. EST on Nov. 30 and the satisfaction of other customary closing conditions.

The joint book-running managers for this offering are J.P. Morgan Securities, Barclays Capital, and Goldman, Sachs & Co.