November 25, 2014 6:33 PM ET

Healthcare Providers and Services

Company Overview of Quest Diagnostics Inc.

Company Overview

Quest Diagnostics Incorporated provides diagnostic testing information services in the United States and internationally. The company operates in two businesses, Diagnostic Information Services and Diagnostic Solutions. It offers clinical testing services, such as routine testing, gene-based and esoteric testing, anatomic pathology services, and drugs-of-abuse testing, as well as related services and insights; laboratory testing services for new drugs, vaccines, and medical devices; and risk assessment services for the life insurance industry. The company also develops, manufactures, and markets diagnostic products, including Simplexa molecular chemistries for testing infectious disease and ...

3 Giralda Farms

Madison, NJ 07940

United States

Founded in 1967

41,000 Employees

Phone:

973-520-2700

Key Executives for Quest Diagnostics Inc.

Chief Executive Officer
Age: 57
Total Annual Compensation: $1.1M
Chief Financial Officer and Senior Vice President
Age: 52
Total Annual Compensation: $472.1K
Chief Medical Officer and Senior Vice President of Hospital Services
Age: 59
Total Annual Compensation: $573.9K
Senior Vice President of Clinical Franchises
Age: 51
Total Annual Compensation: $520.0K
Senior Vice President and General Counsel
Age: 52
Total Annual Compensation: $492.1K
Compensation as of Fiscal Year 2013.

Quest Diagnostics Inc. Key Developments

Quest Diagnostics Not To Acquire a CRO

Steve Rusckowski, Chief Executive Officer of Quest Diagnostics Inc. (NYSE:DGX) said his company will stick to its core business of diagnostic testing and is not interested in acquiring a contract research organization (CRO). Steve Rusckowski said in an interview that his company is not interested in straying very far from its focus on diagnostic information services. "What we don't have, and we believe is not in the scope of diagnostic information services is a clinical research organization," Steve Rusckowski said. "We believe the scope we have in diagnostic information services is broad enough and good enough for us to support our growth goals".

Quest Eyes Acquisitions

Quest Diagnostics Inc. (NYSE:DGX) is looking for acquisition opportunities. Quest expects to continue to achieve sequential improvement in organic revenue growth, with overall average revenue growth of 2% to 5% over the next three years. This expected revenue growth includes potential acquisitions.

Quest Diagnostics Introduces BRCAvantage Plus

Quest Diagnostics announced BRCAvantage Plus, the company's suite of lab-developed test services for assessing genetic breast cancer risk based on clinically validated non-BRCA as well as BRCA genes. The new service is now available in all 50 states. BRCAvantage Plus is the first major line extension to BRCAvantage, a suite of lab-developed tests for assessing BRCA1 and BRCA2 gene mutations launched in October 2013. BRCAvantage Plus screens for mutations (point mutations, deletions, and duplications) in the BRCA1 and BRCA2 genes as well as in five additional genes: TP53, PTEN, CDH1, STK11, and PALB2. While mutations in the BRCA1 and BRCA2 genes result in 15% to 20% of inherited breast cancers, recent research indicates that mutations in these five non-BRCA genes account for an additional 3% to 4.5% of inherited breast cancers. Individuals who test positive for a mutation may consider more intensive monitoring or medical or surgical intervention to decrease risk of death from cancer in conjunction with their physician and in consideration of medical evidence and guidelines. Other unique capabilities of BRCAvantage Plus include: Based on the advanced technologies and scientific knowledge. The BRCAvantage family of services is based on next-generation gene sequencing and multiplex ligation-dependent probe amplification, for analytical sensitivity and specificity of over 99.99% in the company's assay validation study. In addition, identified variants are cross referenced with mutational databases to promote reliable clinical interpretation. Quest is also participating in ongoing collaborative studies to further the understanding of specific mutations together with academic medical centers, including Memorial Sloan Kettering Cancer Center in New York. Access to expert genetic counselors to guide physicians and patients through the risk assessment process. A national survey by Quest Diagnostics and Harris Interactive found significant confusion among women polled about BRCA testing, with 82% claiming they would not know what to do with a positive BRCA gene test result if they received one. Quest Diagnostics encourages patients to consult a genetic counselor as well as their physician to understand the clinical need for and medical significance of all genetic cancer-risk tests. As part of the BRCAvantage service, Quest helps patients identify a non-Quest employed genetic counselor for consultation. Physicians may consult a Quest Diagnostics genetic counselor for assistance in test selection and interpretation. Pre-authorization support. Through its relationships with health plans across the United States, Quest Diagnostics helps patients identify if BRCAvantage testing is covered by their individual plan. National access to testing. After a physician orders a test, patients can submit blood specimens for testing at Quest's about 2,000 patient service centers located across the United States, for geographic convenience unmatched by any other BRCA test provider.

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