Quest Diagnostics

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Quest Diagnostics
Type Public (NYSE: DGX)
Founded New York, U.S. (1969)
Headquarters Madison, New Jersey, U.S.
Key people Surya Mohapatra (CEO)
Services Clinical laboratory
Website QuestDiagnostics.com

Quest Diagnostics Incorporated (NYSE: DGX) is a United States corporation which provides clinical laboratory services. The company has operations in the United States, United Kingdom, Mexico and through its wholly-owned subsidiary Quest Diagnostics India Pvt. Ltd, a laboratory in India[1] in addition to service locations located in Brazil. Quest Diagnostics also has collaborative agreements internationally with various hospitals and clinics. [2] Quest Diagnostics also has operations in the US Territory of Puerto Rico. [3]

Quest Diagnostics is a member of the Fortune 500 and the S&P 500. The company's corporate headquarters were previously located in Teterboro, New Jersey where the largest business unit is located. Currently, the corporate headquarters are located in Madison, New Jersey[4] having moved there in October 2007 from Lyndhurst, New Jersey.

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[edit] History

  • 1969: Founded as MetPath, Inc., in New York.
  • 1982: MetPath was acquired by what was then known as Corning Glass Works, and subsequently renamed Corning Clinical Laboratories.
  • 1997: Quest Diagnostics becomes an independent company as a spin-off from Corning.
  • 1997: Acquires clinical laboratory division of Branford, CT-based Diagnostic Medical Laboratory, Inc. (DML)[5].
  • 1999: Acquires SmithKline Beecham Clinical Laboratories; GlaxoSmithKline still holds a large portion of Quest Diagnostics stock.
  • 2001: Completes acquisition of Ohio-based MedPlus, Inc. (NASDAQ: MEDP), a healthcare technology company.
  • 2002: Completes acquisition of Virginia-based American Medical Laboratories, Inc. (AML) and an affiliated company of AML, LabPortal, Inc., for approximately $500 million in cash.
  • 2003: Completes acquisition of California-based Unilab Corporation (NASDAQ: ULAB) in a transaction valued at approximately $800 million .
  • 2005: Completes acquisition of Kansas-based LabOne, Inc. (NASDAQ: LABS).
  • 2006: Completes acquisition of Virginia-based Focus Diagnostics, Inc., an infectious and immunologic disease laboratory, for approximately $185 million in cash.
  • 2007: Quest Diagnostics celebrates its 10th year after being spun off from Corning.
  • 2007: Completes acquisition of Sweden-based Hemocue, a point-of-care diagnostic testing company.
  • 2007: Acquires AmeriPath, becoming the leading provider of cancer diagnostic testing services.

[edit] Key Facts

  • The nation's leading provider of diagnostic testing, information and services.
  • Processed more than 151 million test requisitions in 2006.
  • More than 33 regional laboratories in key U.S. markets, plus the UK and Mexico.
  • Approximately 2,000 patient service centers.
  • Revenues of approximately $6.7 billion in 2007.
  • Leadership in gene-based and esoteric testing.
  • Leadership in workplace drug testing.

[edit] See also

[edit] External links

[edit] References

  1. ^ 2/20/2008 News Release: Birla Sun Life Insurance Names Quest Diagnostics its Exclusive Provider of Health Assessment Services in India. http://phx.corporate-ir.net/phoenix.zhtml?c=82068&p=irol-newsArticle&ID=1110178&highlight=India
  2. ^ Quest Diagnostics: Our Growing International Presence http://www.questdiagnostics.com/brand/business/b_bus_lab_presence.html
  3. ^ Quest Diagnostics: International Facilities & Operations http://www.questdiagnostics.com/brand/company/b_comp_intl_facilities.html
  4. ^ 10/24/2007 News Release: Quest Diagnostics Reports Third Quarter Results. Note new location of press release http://phx.corporate-ir.net/phoenix.zhtml?c=82068&p=irol-newsArticle&ID=1066622&highlight=
  5. ^ Quest Diagnostics Acquires Assets Of Diagnostics Medical Laboratory Inc. http://phx.corporate-ir.net/phoenix.zhtml?c=82068&p=irol-newsArticle&ID=199488&highlight=