Whats gone on at Quest Diagnostics over the last year or so that investors should focus on?
Mr. Freeman: We’ve come a long way in the last year. As you know, we acquired one of our largest competitors, SmithKline Beecham Clinical Laboratories, in August 1999. Since that time, we’ve been integrating two roughly equivalently sized companies to create the industry leader for diagnostic testing, information and services. We have delivered breakout performance ‘ roughly doubling net income in 2000. This year, we’re on track to improve our earnings per share by at least 60%. That’s a pretty good track record during a time of complex integration. In fact, we defied history in our industry by successfully integrating two large companies while at the same time driving exceptional top and bottom line growth. TWST: In terms of the acquisition, how has the integration gone relative to what you expected? Mr. Freeman: We’re very much on track. We made a commitment to the Street initially that we would achieve at least $100 million of annual synergies as a result of bringing the two compani
