Quest Diagnostics Inc. - DGX STOCK NEWS

Quest Diagnostics (NYSE: DGX) has successfully completed its acquisition of select assets from Northern Light Laboratory, part of Northern Light Health in Maine. This acquisition aims to enhance access to innovative diagnostic services for physicians and patients across the state. Quest's advanced laboratory will be the primary provider of clinical testing services previously handled by Northern Light. Furthermore, Quest will manage laboratory services for nine hospitals and a cancer center within the Northern Light system. Financial details of the transaction remain undisclosed, but it is expected to improve patient care and lower costs.

Quest Diagnostics (NYSE: DGX) recently updated its long-term financial outlook, projecting a mid single-digit revenue growth rate and a high single-digit growth rate for adjusted diluted earnings per share (EPS) from 2023 to 2026. The company remains committed to annual savings and productivity improvements of approximately 3%. During its Investor Day, management shared strategies to enhance growth across lab services, hospitals, and consumer health, including partnerships and expansion of advanced diagnostics.

The guidance for 2023 remains unchanged with net revenues estimated between $8.83 billion and $9.03 billion, reflecting a decrease of 8.6% to 10.7% from the previous period.

NORTHAMPTON, MA / ACCESSWIRE / March 14, 2023: A report by the CDC highlights a growing concern over childhood obesity rates among Hispanic and Black populations, worsened by COVID-19. In response, the Social and Health Research Center (SAHRC) has launched the Bienestar/NEEMA Coordinated School Health Program to combat these issues. Funded by Q4HE, the program's digital curriculum is affordable and engaging for schools, reducing costs from $18,000 to under $1,000. The initiative aims to improve health equity by educating children on healthy habits, ultimately decreasing risks of obesity and related diseases.

Quest Diagnostics is enhancing health outcomes in underserved communities through Q4HE, collaborating with various organizations to combat historical disparities. Initiatives include:

• American Diabetes Association: Project Power promotes healthy habits for at-risk youth.
• Sesame Workshop: Supports child well-being in diverse environments.
• Cooking Matters: Reduces obesity through community nutrition programs.
• Healthy NewsWorks: Advocates health literacy via school journalism.
• Primary Care of Southwest Georgia: Expands health services in rural areas.
• SAHRC: Digitizes health education for children.
• The Green Bronx Machine: Integrates agriculture with education.

The Biopsy Devices Market, valued at USD 3.67 billion in 2021, is projected to grow to USD 3.96 billion by 2029, at a CAGR of 7.3% during 2022-2029. Driven by increasing cancer prevalence, especially breast cancer, and advancements in diagnostic procedures, demand for these devices is expected to surge. The report emphasizes key market players' strategies, including partnerships, product launches, and technological innovations. Notably, Quest Diagnostics (NYSE: DGX) partnered with Biocept for liquid biopsy services, showcasing industry collaboration to meet growing diagnostic needs. Comprehensive market insights, including PESTEL and SWOT analyses, are also provided.

Quest Diagnostics (NYSE: DGX) announced the election of James E. Davis as Chairman of the Board, effective April 1, 2023. Davis, who is also the CEO and President, emphasizes a unified leadership approach to enhance shareholder value and execute the company’s strategic goals. He succeeds Steve Rusckowski, who has served as CEO since May 2012 and will continue as Chairman until March 31, 2023. Davis, with a background in General Diagnostics and experience at General Electric, aims to build on Rusckowski's legacy and foster continued growth and operational excellence at Quest Diagnostics.

Quest Diagnostics collaborated with the University of North Texas Health Science Center and Remote Area Medical to host a free pop-up clinic in Dallas, Texas, in December 2022. The event provided essential healthcare services to over 500 underserved individuals, including dental, vision, and medical treatments, with nearly 140 participants receiving no-cost lab testing through Quest's Quest for Health Equity initiative. The estimated value of the services provided was approximately $2.1 million. The two-day clinic aimed to enhance community health awareness and empower individuals to take control of their health.

Quest Diagnostics has announced a partnership with Primary Care of Southwest Georgia (PCSG) to open its second school-based health center aimed at improving access to healthcare for underserved families. Supported by a grant from Q4HE, the health center will provide mobile COVID-19 testing and general healthcare services. This initiative also includes wellness screenings and chronic disease management, targeting public housing sites and community events. A new transportation van will help ensure students can access these critical services without parents needing to take time off work, significantly enhancing healthcare access in the Early County area.

Quest Diagnostics has been instrumental in providing COVID-19 testing for New York's first responders, including police officers and healthcare workers. During the pandemic's peak, they conducted serology testing to assess COVID-19 antibody prevalence among frontline workers. Following this, Quest set up six PCR testing sites within the NYPD precincts, ensuring quick access for officers, especially those with vaccination exemptions. Their efforts supported a graduation event for 800 police recruits, where testing was required. Antonio Luciano, the Territory Manager, emphasized the importance of these services in keeping essential workers safe while serving the community.