Neway Forms Lab Services Agreement with Quest Diagnostics to Speed Quality ESRD Testing

(Low)

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

News Market Reaction – DGX

The recorded move for DGX in the trading session of this news was +1.04%.

Data tracked by StockTitan Argus. Session date unavailable.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

10/05/2023 - 06:12 PM EDT

Relationship features use of Quest's distributed network of labs to deliver fast testing times in local communities around the United States

LITTLETON, Colo., Oct. 5, 2023 /PRNewswire/ -- Neway, LLC, the U.S. leader in value-based dialysis lab care, today announced a strategic lab services arrangement with Quest Diagnostics (NYSE: DGX) that aims to accelerate dialysis laboratory testing and reduce the laboratory costs of dialysis programs for patients with end-stage renal disease (ESRD).

Under the terms of the agreement, Neway will utilize the extensive lab network of Quest Diagnostics to provide local dialysis laboratory testing services with typically next-day results after arrival at a Quest Diagnostics laboratory. The Neway-Quest collaboration will provide an alternative to the centralized lab model where the majority of dialysis programs in the U.S. transport specimens to a single laboratory for processing. By utilizing Quest's distributed lab network, Neway and its affiliated dialysis centers and their patients will experience faster testing and results reporting and lower transportation costs.

Bryan Thompson, Neway Founder and CEO, said, "The Neway solution exemplifies our dedication to bringing value, innovation, stewardship, and economies of scale to the unique dialysis industry. The centralized dialysis laboratory specimen testing model has been around since the early 1990s with limited innovation. The old model of generally relying on air transportation of dialysis laboratory specimens to a single U.S. location is costly and can takes days for results. The 'new way' for dialysis laboratory testing is a decentralized network of laboratory locations that spans the nation. This approach is good for dialysis patients, dialysis programs, insurance payers, and the entire dialysis industry. It is a win for everyone."

"As a leader in cardiometabolic diagnostic solutions, including in kidney disease, Quest understands the unique challenges patients with ESRD face and the criticality of rapid testing that never compromises on quality," said Mouris Saghir, PhD, Vice President and General Manager for the Quest Diagnostics National Cardiometabolic Center of Excellence at Cleveland HeartLab. "Working together with Neway, we will address these challenges and expedite test results while maintaining the highest level of quality for patients with ESRD."

View original content to download multimedia:https://www.prnewswire.com/news-releases/neway-forms-lab-services-agreement-with-quest-diagnostics-to-speed-quality-esrd-testing-301949011.html