Welcome to our dedicated page for Quest Diagnostics news (Ticker: DGX), a resource for investors and traders seeking the latest updates and insights on Quest Diagnostics stock.
Quest Diagnostics Inc. (NYSE: DGX) is a leading provider of diagnostic testing, information, and services in the United States, enabling people to make informed health decisions. The company provides diagnostic insights derived from the world’s largest database of clinical lab results, which aids in identifying and treating diseases, promoting healthy behaviors, and improving healthcare management.
Quest Diagnostics serves one in three adult Americans and half of the physicians and hospitals in the United States. Its workforce of nearly 50,000 employees is dedicated to transforming lives by providing actionable diagnostic insights. The company offers the broadest test menu available, with over 3,000 different tests, and has a strong focus on cancer diagnostics, anatomic pathology, and interpretive consultations through its medical and scientific staff of approximately 900 M.D.s and Ph.D.s.
In recent years, Quest Diagnostics has been at the forefront of innovation in diagnostic testing. The company has significantly invested in AI and digital pathology to enhance the accuracy and efficiency of cancer diagnoses. A notable collaboration with PathAI aims to accelerate the adoption of digital and AI pathology technologies, thereby improving the quality, speed, and efficiency of diagnosing cancer and other diseases. This partnership includes the acquisition of PathAI Diagnostics’ state-of-the-art digitized laboratory in Memphis, Tennessee, which will serve as Quest’s AI and digital R&D and solutions center.
Financially, Quest Diagnostics has shown robust performance, with annual revenues reaching $7.4 billion in 2014. The company continues to strengthen its market presence through strategic acquisitions and partnerships, expanding its services and enhancing its capabilities in specialized pathology services. The integration of digital and AI technologies across its operations has improved quality, efficiency, and customer satisfaction, positioning Quest Diagnostics as a leader in the diagnostic services industry.
Quest Diagnostics' extensive clinical testing network includes roughly 2,300 patient service centers, numerous doctors' offices, and hospitals nationwide. The company also provides clinical trials testing, risk assessment services, and information technology solutions through its diagnostic solutions segment.
By leveraging its comprehensive diagnostic insights, Quest Diagnostics aims to empower individuals and healthcare providers to make informed decisions that lead to better health outcomes, ultimately contributing to a healthier world.
Quest Diagnostics (DGX) has secured a group purchasing agreement with Premier Inc. (PINC) for its laboratory stewardship solutions. This collaboration enables Premier members to access Quest's Lab Stewardship Enterprise at special pricing, facilitating improved healthcare delivery. The platform offers data analytics for healthcare organizations, tracking trends and identifying cost-saving opportunities. Quest aims to enhance care quality and operational efficiency as health systems face post-pandemic challenges. This agreement marks a significant enhancement in accessibility for Quest's innovative healthcare solutions.
Quest Diagnostics (NYSE: DGX) has completed its acquisition of LabCare Plus, the outreach laboratory services business of Summa Health. This acquisition enables Quest to enhance access to its extensive test menu and health plan relationships in Northeastern Ohio. Patients and physicians will benefit from improved diagnostic services and lower out-of-pocket costs. Testing will be provided by Quest’s laboratories in Twinsburg, Ohio, and Pittsburgh, Pennsylvania, serving areas previously serviced by LabCare Plus.
ConferMED has announced the provision of specialty eConsults to Federally Qualified Health Centers (FQHCs) in Texas, Maryland, Massachusetts, Florida, and Illinois, benefiting nearly 400,000 uninsured and underinsured patients. This initiative is supported by a $2.3M grant from the Quest Diagnostics Foundation as part of its Quest for Health Equity initiative. The program will enhance access to specialty care, potentially improving health outcomes for underserved communities. Fifteen health centers have already signed up, allowing primary care providers to consult with specialists across more than 40 specialties.
DermTech, Inc. (NASDAQ: DMTK) has formed an agreement with Sonora Quest Laboratories to enhance access to its non-invasive DermTech Melanoma Test in Arizona. The test, using Smart Stickers™, boasts over 99% reliability in ruling out melanoma, allowing patients to detect the disease early, significantly improving survival rates. This partnership will reduce unnecessary biopsies and healthcare costs while increasing the test's availability through Sonora Quest’s extensive provider network.
Quest Diagnostics (DGX) declared a quarterly cash dividend of $0.66 per share, payable on February 1, 2023. Shareholders of record will be eligible on January 18, 2023. This decision reflects the company's commitment to returning value to its shareholders while maintaining strong financial health and operational performance in the diagnostic information services sector.
On November 4, 2022, Quest Diagnostics (NYSE: DGX) launched three innovative fitness panels on questhealth.com. These panels are tailored for athletes at all levels and assess overall fitness by analyzing endurance, nutrition, hydration, energy, and hormone levels. The panels include the Essentials, Nutrition, and Elite Profiles, priced between $269 and $559. Results are available electronically within 7-14 days and may be covered by HSA/FSA. The initiative aims to empower athletes with actionable insights for enhanced performance and injury prevention.
Quest Diagnostics (NYSE: DGX) has been recognized in Fast Company's annual Brands That Matter list for its impactful Quest for Health Equity initiative. The initiative represents over $100 million allocated to reduce health disparities in underserved communities, addressing critical issues like heart disease and diabetes. The Fast Company list honors brands that create cultural impact and engagement, with Quest being acknowledged for its relevancy and emotional connection with the public. This highlights Quest's commitment to promoting health equity and community well-being.
Quest Diagnostics (NYSE: DGX) has announced the appointment of Jim Davis as CEO and President, succeeding Steve Rusckowski, who remains as Chairman until March 2023. This transition, initiated on February 3, 2022, aims to strengthen leadership following Rusckowski's decade-long service. Davis, who joined Quest in 2013, has led the company’s response to the COVID-19 pandemic. He emphasized a focus on growth, operational excellence, and advancing diagnostics to improve health outcomes.
Quest Diagnostics partners with Saint Louis University to launch an accelerated bachelor's degree program in medical laboratory science. This 16-month program aims to address the critical shortage of medical laboratory scientists, essential for performing diagnostic tests that inform patient diagnoses and treatments. Currently, the U.S. lacks enough graduates to meet the projected demand of 12,600 new jobs in this field by 2030. The collaboration ensures hands-on training and a potential 100% job placement rate for graduates, highlighting the urgent need for skilled professionals.
Bread of Life, Inc. has launched the Healthy Houston Collective program with the Quest Diagnostics Foundation, targeting healthcare disparities in Houston. The initiative aims to support over 9,000 individuals in underserved communities, backed by a $3.8 million grant. Key program areas include the Community Care Program, health careers training, and collaborations with Federally Qualified Health Centers. The goal is to provide accessible healthcare services, education, and job opportunities while battling health inequities in the region.
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