Quest Diagnostics

Overview

Quest Diagnostics Incorporated

type	Public
traded as	nyse: DGX S&P 500 component
founder	Paul Brown
area served	United States Brazil Mexico
key people	Jim Davis (CEO)‡R1R‡
industry	Health care
services	Medical testing Molecular diagnostics Clinical chemistry
revenue	US$9.87 billion (2024)
operating income	US$1.35 billion (2024)
net income	US$871 million (2024)
assets	US$16.2 billion (2024)
equity	US$6.81 billion (2024)
num employees	56,000 (2024)
founded	1967, in New York City, U.S.
hq location	Secaucus, New Jersey, U.S.
website	https://questdiagnostics.com
footnotes	‡R2R‡

Quest Diagnostics Incorporated is an American clinical laboratory. A Fortune 500 company, Quest operates in the United States, Puerto Rico, Mexico, and Brazil.[3] Quest also maintains collaborative agreements with various hospitals and clinics across the globe.[4]

As of 2020, the company had approximately 48,000 employees, and it generated more than $7.7 billion in revenue in 2019.[5][6] The company offers access to diagnostic testing services for cancer, cardiovascular disease, infectious disease, neurological disorders, COVID-19, and employment and court-ordered drug testing.[7]

History

1960–1995

Originally founded as Metropolitan Pathology Laboratory, Inc. in 1967 by Paul A. Brown, MD, the clinical laboratory underwent a variety of name changes.[8] In 1969, the company's name changed to MetPath, Inc.[9] with headquarters in Teaneck, New Jersey. By 1982, MetPath was acquired by what was then known as Corning Glass Works[10] and was subsequently renamed Corning Clinical Laboratories.[11]

1996–2000

On December 31, 1996, Quest Diagnostics became an independent company as a spin-off from Corning.[11][12] Kenneth W. Freeman was appointed as CEO during this transition.[13][14] Over the next year, Quest acquired a clinical laboratory division of Branford, Connecticut–based Diagnostic Medical Laboratory, Inc. (DML).[15] Two years later in 1999, Quest added SmithKline Beecham Clinical Laboratories to their subsidiaries;[16][17] which includes a joint venture ownership with CompuNet Clinical Laboratory.[18] The purchase of SmithKline Beecham also included the lab's medical sample transport airline originally founded in 1988.[19]

In 1997, Quest and Banner Health formed a joint venture creating the Arizona based Sonora Quest laboratory, a business unit of Laboratory Sciences of Arizona.[20] This entity represents the operations of Quest Diagnostics in the Arizona regional market.

2001–2015

From May 2004 to April 2012, Surya Mohapatra served as the company's President and CEO. In 2007 Quest acquired diagnostic testing equipment company AmeriPath.[21] In response to Mohapatra's resignation after eight years with Quest, former Philips Healthcare CEO Stephen Rusckowski was appointed.[22] Under Rusckowski, Quest Diagnostics teamed up with central New England's largest health care system, UMass Memorial Health Care, to purchase its clinical outreach laboratory.[23]

2016–present

In 2016, Quest collaborated with Safeway to bring testing services to twelve of its stores in California, Maryland, Virginia, Texas and Colorado.[24]

By the end of 2017, Quest, in partnership with Walmart, incorporated laboratory testing in about 15 of their locations in Texas and Florida.[25]

In May 2018, the company announced it will become an in-network laboratory provider to UnitedHealthcare starting in 2019, providing access to 48 million plan members.[26]

In September 2018, Quest moved its headquarters from Madison, where it was located since 2007, to Secaucus, New Jersey.[27][28]

Quest Diagnostics

History

1960–1995

1996–2000

2001–2015

2016–present

Acquisitions

Partnerships

Controversies

External links

References