|Traded as||NYSE: DGX|
S&P 500 Component
|Founded||New York City, United States (1967)|
|Headquarters||Madison, New Jersey, United States|
(Chairman, President, & CEO)
|Revenue||US$7.709 billion (2017)|
|US$1.165 billion (2017)|
|US$772 million (2017)|
|Total assets||US$10.503 billion (2017)|
|Total equity||US$4.921 billion (2017)|
Number of employees
|~45,000 (December 2017)|
Quest Diagnostics Incorporated (NYSE:DGX) is an American clinical laboratory 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 the United States, (including Puerto Rico), United Kingdom, Mexico, and Brazil.  Quest also maintains collaborative agreements with various hospitals and clinics across the globe.
As of 2017 the company had approximately 45,000 employees, and generated more than $7.7 billion in revenue. The company offers access to diagnostic testing services for cancer, cardiovascular disease, infectious disease, and neurological disorders.
Originally founded 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.
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 subsidiaries;  which includes a joint venture ownership with CompuNet Clinical Laboratory.
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 CEO Stephen Rusckowski was appointed. 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.
In 2014 Quest launched a collaboration with University of California, San Francisco to speed the transition from biomedical research to advanced diagnostic methods in the field of precision medicine.
Memorial Sloan Kettering Cancer Center joined with Quest in 2014 to advance precision medicine in the diagnosis and treatment of cancer.
In 2016 Quest collaborated with Safeway to bring testing services to twelve stores of its stores in California, Maryland, Virginia, Texas and Colorado.
By the end of 2017 Quest, in partnership with Walmart, incorporated laboratory testing in about 15 of their locations in Texas and Florida.
- 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 million.
- 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.
- 2018: Acquires U.S. laboratory services business of Oxford Immunotec.
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.
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- "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.
- Dealbook. "Thermo Fisher to Buy Phadia for $3.5 Billion". DealBook. Retrieved 2018-10-23.
- 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.
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- "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.
- O'Brien, Tim (2 May 2018). "CervicalCheck 10-year timeline". The Irish Times.
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