Media Coverage

Democratic presidential candidates' calls for "Medicare for all" may seem like a threat to profits and innovation in the U.S. healthcare sector, but not all industry executives see it that way, even in the remote chance such a proposal is enacted. Some healthcare executives say giving the public the option of government coverage could actually be a net plus for the industry by adding more customers, particularly the estimated 44 million citizens who have no coverage. For companies like Quest Diagnostics, the largest provider of lab services, the answer is to roll up the industry to give it pricing power. "There are hundreds of laboratory companies, so our acquisition strategy is to consolidate the industry," CEO Stephen Rusckowski told Mergermarket. The company expects to spend an average of $250 million to $300 million a year on acquisitions.

While staffing shortages are one of main challenges facing the lab industry, some employees are seeing a benefit in the form of rising compensation. During Quest Diagnostics' Q4 earnings call last month, CFO Mark Guinan said that the company had seen "rising wage pressure" due to the tightening labor market. Quest President, Chairman, and CEO Steve Rusckowski noted that the firm was primarily seeing this pressure at what he called "the front end of our value chain," meaning positions like couriers and specimen processing where it competes for workers not only with other labs but also with employers outside the lab industry.

UNT Health Science Center and Quest Diagnostics are collaborating to improve outcomes for high risk patients in underserved populations. Quest, which is the leading diagnostic information services company, will use its massive trove of data from its diagnostic business to provide guidance on how to manage populations effectively.

With its recent acquisition of Finnish molecular diagnostics firm Blueprint Genetics, Quest Diagnostics is looking to expand and improve its genetic testing portfolio.[CR-LF][CR-LF]The lab company was particularly interested in Blueprint's informatics capabilities, which Carrie Eglinton Manner, Quest's senior vice president of Advanced Diagnostics, said would enhance its existing genetic test offerings by improving variant interpretation and reporting.[CR-LF][CR-LF][CR-LF]"We have full next-generation sequencing services in a number of our labs," she said. "The capability that we are really excited about is their bioinformatics capability. Their bioinformatics has a depth and flexibility, including software engineering expertise, that we can apply to our entire portfolio… to help accelerate [bringing] test offerings to market as well as expanding growth for the company."

Long Island companies may have to rethink their drug testing policies as state lawmakers renew a push to legalize recreational marijuana.[CR-LF][CR-LF]A bid for legalization narrowly failed last year. Gov. Andrew M. Cuomo, who included the Cannabis Regulation and Taxation Act in his new budget, made it clear last month in his State of the State address that it's one of his top priorities. The New York State Bar Association threw its support behind legalization last month.

The human brain has a unique ability to take in information, block out unnecessary data, analyze it and issue a motor response—all within fractions of a second. It is one of the many reasons why humans are at the top of the food chain.[CR-LF][CR-LF]But the ability to process information, make a quick decision and act accordingly can be affected when under the influence of marijuana. All the steps involved in decision making slow down, which can—in some cases—cause catastrophic, unintended effects.

Mayor Erin Stewart held a ribbon cutting ceremony Monday afternoon for Quest Diagnostics’ newest Patient Service Center at One Grove Place.

Quest Diagnostics, a leading provider of diagnostic information services, and Memorial Hermann Health System, a leading not-for-profit health system that includes 17 hospitals and more than 300 care delivery sites in the Greater Houston region, announced a multi-pronged, long-term collaboration intended to broaden access to innovative, high-value laboratory services for providers and patients in Greater Houston.[CR-LF][CR-LF]Quest and Memorial Hermann have executed a definitive agreement for Quest to acquire select assets which constitute substantially all the operations of Memorial Hermann Diagnostic Laboratories (MHDL), the outreach laboratory division of Memorial Hermann. The acquisition includes nearly 30 MHDL patient service centers and nearly 60 in-office laboratory service sites. These services will transition to the Quest Diagnostics full-service laboratory in Houston. Upon closing, Quest will also provide professional laboratory management services through a multi-year agreement for all of Memorial Hermann's 21 hospital laboratories, which provide onsite rapid response testing. Memorial Hermann will continue to wholly own these labs.

Quest Diagnostics today reported a 5 percent year-over-year rise in revenues for the fourth quarter, beating the consensus expectation from Wall Street analysts.[CR-LF][CR-LF]Revenue for the three months ended Dec. 31, 2019 was $1.93 billion, up from $1.84 billion in the same quarter last year. The consensus Wall Street estimate was $1.92 billion.[CR-LF][CR-LF]Test volumes grew 4 percent during the quarter with revenue per test growing a little more than 1 percent.[CR-LF][CR-LF]During a conference call following release of the results, Quest Chairman, President, and CEO Steve Rusckowski, said that expanded access to healthcare plan networks combined with good operational execution allowed the company to counter what he called "significant reimbursement pressure."

Companies, we all know, need to make a profit to prosper and survive. Making a buck, after all, is important to investors, employees and vendors. But over the years, executives have come to realize that they need to do much more. That is, by giving back to the communities they operate in and standing up as good neighbors and citizens.[CR-LF][CR-LF]Newsweek partnered with global data research firm Statista Inc. to publish our first ranking of America's Most Responsible Companies. As you will see from our description of the methodology, Statista worked from a universe of 2000 public companies to determine which firms were tops when it came to doing good. Quest Diagnostics is number 164.

A new study provides a look at the levels of such similarity between married partners when it comes to their heart health, in hopes of finding ways to lead more people to be like the Kellys.[CR-LF][CR-LF]Researchers examined five years of biometric measurements and blood test data from 5,364 couples. The researchers then charted how each partner measured up against seven modifiable risk factors for heart disease (smoking, exercise, diet, body mass index, blood pressure, total cholesterol and fasting glucose) and for overall cardiovascular health.

Quest Diagnostics and Memorial Hermann Health System, a leading not-for-profit health system that includes 17 hospitals and more than 300 care delivery sites in the Greater Houston region, today announced a multi-pronged, long-term collaboration intended to broaden access to innovative, high-value laboratory services for providers and patients in Greater Houston.

Doctors worry that a second drug epidemic is on the horizon, according to a recent survey. We’re still amid the opioid crisis, but 62 percent of the primary care physicians queried say it’s likely to morph into a whole new emergency, this time fueled by prescription drug misuse.[CR-LF][CR-LF]Physicians in that survey, conducted by the Center on Addiction and Quest Diagnostics, were focused on people in chronic pain who, deprived of opioids, may find relief by turning to other prescription drugs such as benzodiazepines like Valium. That’s a critical concern, but there’s another important issue that requires our urgent attention: Too many teens and young adults don’t understand that the drugs we count on to treat our medical problems can be dangerous if misused.

Quest Diagnostics today announced that it has acquired Blueprint Genetics in an all-cash equity transaction. Blueprint Genetics is a leading specialty genetic testing company with deep expertise in gene variant interpretation based on next generation sequencing (NGS) and proprietary bioinformatics. Together, Quest and Blueprint Genetics will broaden access to actionable insights in genetic and rare diseases, improving patient care and pharmaceutical drug research and development. Financial terms of the transaction were not disclosed.

You decided to screen workers for drug use because you want to maintain a safe and productive workplace. But what should you do when workers flunk the test? Should employees be fired, given another chance or referred to an employee assistance program? Employment attorneys say consistency is the key.[CR-LF][CR-LF]"Employers should have strong policies in place addressing whether or under what circumstances they will engage in dialogue with an employee or applicant who fails a drug test," said Jill Vorobiev, an attorney with Reed Smith in Chicago. Policies also should take into account any state laws that may apply to failed drug tests and whether the employer might need to make reasonable accommodations for workers with disabilities, she said.

Twenty-three New Jersey companies have been recognized as a “Best Place to Work for LGBTQ Equality” by the Human Rights Campaign Foundation, the educational arm of the country’s largest lesbian, gay, bisexual and transgender civil rights organization.[CR-LF][CR-LF]According to the 2020 Corporate Equality Index, more than 680 companies were assessed and designated with the honor for their efforts in satisfying four criteria ⁠— non-discrimination policies, employment benefits, corporate social responsibility and responsible citizenship ⁠—earning them a score of 100%. Quest is included in this list.

Quest Diagnostics today announced that it has been selected as one of FORTUNE's World's Most Admired Companies in 2020 for the sixth consecutive year.

From makeup and oils to capsules for stress relief, cannabis-based goods are flowing into the marketplace. But while they may not get you high, they can still cause you problems at work. Cannabidiol or CBD has been showing up in a widening array of goods. That's because federal legislation in 2018 deemed that hemp - one of its sources - was not an illegal controlled substance.

Employers must provide a safe work environment, and they want to ensure their employees are productive, but is maintaining a drug-testing program in furtherance of these goals worth the hassle? The answer may depend on the workplace.[CR-LF][CR-LF]"You have to consider the needs of the business, in addition to any applicable state laws," said Anne-Marie Welch, an attorney with Clark Hill in Birmingham, Mich. Some employers are federal contractors or hire drivers and have to follow specific drug-free workplace laws. Other employers are struggling to find qualified employees or want to maintain a certain culture and think that drug testing—particularly for marijuana—will hinder their ability to attract and retain talent.

LabCorp and Quest went into 2019 predicting some upsides to the Protecting Access to Medicare Act​ (PAMA), which is driving down how much Medicare pays for tests. The clinical laboratory leaders objected to the price cuts but felt they were better equipped to cope with them than smaller rivals, creating opportunities to consolidate the market.[CR-LF][CR-LF]However, the anticipated surge in acquisitions of local and hospital laboratories never materialized. Adam Schechter, who took over as CEO of LabCorp in November, discussed some reasons for lack of M&A activity during a presentation at the J.P. Morgan Healthcare Conference Tuesday.

Now that recreational pot is legal in Illinois, marijuana enthusiasts may feel like it’s finally time to emerge from hiding.[CR-LF][CR-LF]But people with jobs — or looking for them — might want to stay in the shadows for now as companies figure out how to handle employees who partake.

Medical companies that develop tests to diagnose neurological disorders, heart disease risk and fetal abnormalities have been in legal limbo since a 2012 Supreme Court ruling that limited the patenting of such tests, finding they occurred in nature and were not invented.[CR-LF][CR-LF]The high court may signal as soon as Friday whether it will revisit the subject as such tests become critical to the burgeoning field of personalized medicine, in which doctors determine whether a patient is genetically susceptible to a particular disease or would respond to certain treatments.

Quest Diagnostics Incorporated announced that it will report fourth quarter and full year 2019 results on Thursday, January 30, 2020, before the market opens. It will hold its quarterly conference call to discuss the results beginning at 8:30 a.m. Eastern Time on that day

PreemploymentDirectory.com, the background screening news and information portal for Human Resources professionals and Hiring Managers, has published an informative new guide on 'How to Select a Drug & Alcohol Screening Provider' to help employers select the right drug screening provider to meet their hiring needs at a time when drug use is on the increase.[CR-LF][CR-LF]The 'How to Select a Drug & Alcohol Screening Provider' guide was written specifically to help employers to select a drug testing provider who can meet their company's needs and to guide them in defining a successful program. Nina French, Managing Partner, Current Consulting Group, captures the intent of the Guide very well when she states, "Building a house relies on a good architect, a great contractor and excellent communication with the owner. Selecting the wrong vendors can be both expensive and frustrating. Likewise, a great substance abuse testing program takes great design, implementation and ongoing support. Understanding and translating your program design is key to building a successful partnership and selecting the right partner."

Blue Cross Blue Shield of Arizona (BCBSAZ), the state's largest locally based healthcare insurer, and Sharecare, the digital health company that helps people manage all their health in one place, today announced a strategic partnership to empower every Arizonan, regardless of insurance coverage, to improve their holistic health and well-being. Additionally, this deal provides exclusivity to BCBSAZ as the only Arizona-based health plan to offer the Sharecare platform to members or commercial customer groups.