The firm posted before the market open on Tuesday results that beat expectations, and it raised its full-year revenue and earnings guidance.

The firm's life sciences revenues rose 1 percent, while diagnostics revenues were up 2 percent and biotechnology revenues jumped 8 percent.

The CEO submitted claims with codes for services that were never performed and received payments from more than one source for the same test.

The partners intend to develop a point-of-care testing instrument that can be used to aid the diagnosis of cancers and other diseases.