Quest Diagnostics Incorporated (NYSE:DGX) is an American clinical
laboratory with headquarters in Secaucus, New Jersey. Founded in 1967
as Metropolitan Pathology Laboratory, Inc., it became an independent
corporation with the Quest name on December 31, 1996. As a Fortune 500
company, Quest operates in United States, United Kingdom, Mexico,
Brazil, Puerto Rico, and maintains a laboratory in India. Quest
also maintains collaborative agreements with various hospitals and
clinics across the globe.
The company has approximately 44,000 employees, generates more than $7
billion in revenue, and offers access to diagnostic testing services
for cancer, cardiovascular disease, infectious disease, and
2 Modern day growth
6 External links
Originally founded as as Metropolitan Pathology Laboratory, Inc., in
1967 by Paul A. Brown, MD, the clinical laboratory underwent a variety
of rebranding processes. In 1969, the company's name changed to
MetPath, Inc. with headquarters in Teaneck, New Jersey. By 1982,
MetPath was acquired by what was then known as Corning Glass Works,
and subsequently renamed Corning Clinical Laboratories.
Modern day growth
On December 31, 1996,
Quest Diagnostics became an independent company
as a spin-off from Corning. Kenneth Freeman was appointed as CEO
during this transition. Over the next year, Quest acquired a clinical
laboratory division of Branford, CT-based Diagnostic Medical
Laboratory, Inc. (DML). Two years later in 1999, Quest added
SmithKline Beecham Clinical Laboratories to their subsidaries; which
includes a joint venture ownership with CompuNet Clinical Laboratory.
The new millennium welcomed the launch of Quest's
Six Sigma in 2000 -
a data-centered approach to process improvement strategy within the
From May 2004-April 2012, Surya Mohapatra, PhD, served as the
company's President and CEO. In response to Mohapatra's resignation
after 8 years with Quest, former Philips Healthcare
Rusckowski was appointed. Under Rusckowski, Quest Diagnostics
bought all the labs, including the business, from UMASS Memorial
Hospitals in Worcester, MA.
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
2005: Completes acquisition of Kansas-based LabOne, Inc.
(NASDAQ: LABS) for approximately $934 million.
2005: Forms a strategic alliance with Ciphergen Biosystems to
commercialize novel proteomic tests.
2006: Completes acquisition of Virginia-based Focus Diagnostics, Inc.,
an infectious and immunologic disease laboratory, for approximately
$185 million in cash.
2007: Completes acquisition of Sweden-based Hemocue, a point-of-care
diagnostic testing company.
2007: Acquires AmeriPath (and subsidiary Specialty Laboratories) from
Welsh, Carson, Anderson & Stowe, becoming the leading provider of
cancer diagnostic testing services.
2011: Acquires Athena Diagnostics from Thermo Fisher Scientific
2011: Completes acquisition of Celera Corporation, a company that
became famous by its sequencing of the Human Genome.
2014: Acquires Solstas Lab Partners Group (and subsidiaries)
2014: Acquires Summit Health, Inc.
2017: Acquires Cleveland HeartLab, Inc.
Quest Diagnostics set a record in April 2009 when it paid $302 million
to the government to settle a Medicare fraud case alleging the company
sold faulty medical testing kits. It was the largest qui tam
(whistleblower) settlement paid by a medical lab for manufacturing and
distributing a faulty product. In May 2011, Quest paid $241
million to the state of California to settle a
False Claims Act case
that alleged the company had overcharged Medi-Cal, the state’s
Medicaid program, and provided illegal kickbacks as incentives for
healthcare providers to use Quest labs.
^ a b c d e "Financial Statements for Quest Diagnostics". Google.com.
Retrieved October 26, 2016.
^ a b "
Quest Diagnostics 10-K SEC Filing".
Quest Diagnostics 10-K SEC
Filing. December 31, 2015. Retrieved October 26, 2016.
^ "Birla Sun Life Insurance Names
Quest Diagnostics its Exclusive
Provider of Health Assessment Services in India". Quest Diagnostics.
2007-03-31. Retrieved 2012-02-15.
^ "Our Growing International Presence". Quest Diagnostics. Retrieved
Quest Diagnostics Acquires Assets Of Diagnostics Medical Laboratory
Inc". Quest Diagnostics. Retrieved 2012-02-15.
^ "Surya N. Mohapatra". Columbia Business Schools. Retrieved
^ "DGX to Buy UMass Medical Lab (revised)". Yahoo Finance. 23 October
2012. Retrieved 18 May 2015.
^ "Ciphergen Biosystems and
Quest Diagnostics Form Strategic Alliance
to Develop and Commercialize Tests Using Ciphergen's Proteomics
Technology". July 22, 2005. Retrieved Jul 26, 2013.
Quest Diagnostics Successfully Completes Acquisition of Celera
Archived July 9, 2011, at the Wayback Machine. May 17, 2011. Celera
Corporation. Retrieved 2012-02-16.
Quest Diagnostics Acquires Solstas for $570M". News: Industry Watch
(paper). 34 (4). 15 February 2014. p. 10.
Quest Diagnostics Completes Acquisition of Summit Health - Apr 21,
2014". newsroom.questdiagnostics.com. Retrieved 2015-07-16.
^ Christ, Ginger (2017-10-19). "
Quest Diagnostics to acquire Cleveland
Clinic spinoff Cleveland HeartLab". cleveland.com. Retrieved
^ "Businessman exposed problems with Quest subsidiary's blood test
kits; led to $302 million settlement." Phillips & Cohen LLP press
release. April 15, 2009.
^ "Attorney General Kamala D. Harris announces $241 million settlement
with Quest Diagnostics." State of California Department of Justice.
May 19, 2011.
Business data for Quest Diagnostics: Google Finance