QUEST DIAGNOSTICS INC (DGX)

Quest Diagnostics provides diagnostic information services built on clinical laboratory testing, with the goal of helping patients, physicians and organizations improve health outcomes. Its insights draw on one of the world's largest databases of de-identifiable clinical lab results, with more than 80 billion patient data points. The company generated net revenues of $11.0 billion in 2025. It was incorporated in Delaware in 1990, and its predecessor companies date back to 1967.

Its offerings span routine, non-routine and advanced testing, and it is organized around clinical franchises: Cardiometabolic, Endocrine and Wellness; Drug Monitoring and Toxicology; Infectious Diseases and Immunology; Molecular Genomics and Oncology; Neurology; and Women's and Reproductive Health. Its Advanced Diagnostics offerings cover molecular diagnostics (including next-generation sequencing), oncology, neurology, companion diagnostics and non-invasive prenatal and other germline genetic testing. Offerings in five clinical areas generated over $1 billion of revenue in 2025. Examples include the Haystack Oncology minimal-residual disease test, which received FDA breakthrough device designation, and the QUEST AD-Detect blood tests for Alzheimer's disease risk. For hospitals, it performs reference testing, which generated about $1.2 billion of revenue in 2025. Its Collaborative Lab Solutions offering, which generated about $800 million, supports hospitals in running their own labs through lab management outsourcing, test menu optimization, supply chain management and data solutions. It also acquires hospital outreach lab operations and runs joint ventures with health systems, including a 51%-owned venture with Corewell Health in Michigan. It publishes the Drug Testing Index and Health Trends reports.

Quest serves customers across the healthcare ecosystem: physicians, hospitals, patients and consumers, health plans, government agencies, employers, retailers, pharmaceutical companies and insurers. Each year it serves roughly half of U.S. physicians and hospitals and about one-third of U.S. adults. Most services are paid for by third-party payers, including health plans, Medicare and Medicaid, and the company estimates it has access to over 90% of insured lives in the United States. Consumers can access testing through about 2,400 patient service centers, many in retail settings, as well as mobile phlebotomy, the MyQuest portal and the QuestHealth.com platform, which offers over 150 cash-pay tests with third-party physician review. Quest also provides testing for health, wellness and wearable brands and for telehealth and retail partners. It focuses mainly on the U.S. market but also provides advanced reference testing to laboratory providers in other countries.

Quest is headquartered in Secaucus, New Jersey, and operates laboratories, patient service centers and offices across the United States and in selected locations abroad. Its logistics network makes over 83,000 stops daily using about 5,000 courier vehicles and 18 aircraft. It employs about 900 M.D.s and Ph.D.s and about 25,000 phlebotomists, paramedics, nurses and other health professionals, and it processed about 244 million test requisitions in 2025. It connects to about 612,000 clinician and hospital accounts and over 1,000 electronic health record systems, and it owns or controls about 1,200 issued patents. Operationally, it uses the Quest Management System, a cost program called Invigorate, automation and AI, and a multi-year order-to-cash modernization called Project Nova, implemented with Epic. Growth strategy includes acquisitions, such as the 2025 purchase of select Spectra Laboratories assets from Fresenius Medical Care, and a supplier quality program supports its supply network.