Quest Diagnostics Inc Stock Price, News & Analysis

Quest Diagnostics (NYSE: DGX) announced the election of James E. Davis as Chairman of the Board, effective April 1, 2023. Davis, who is also the CEO and President, emphasizes a unified leadership approach to enhance shareholder value and execute the company’s strategic goals. He succeeds Steve Rusckowski, who has served as CEO since May 2012 and will continue as Chairman until March 31, 2023. Davis, with a background in General Diagnostics and experience at General Electric, aims to build on Rusckowski's legacy and foster continued growth and operational excellence at Quest Diagnostics.

Quest Diagnostics collaborated with the University of North Texas Health Science Center and Remote Area Medical to host a free pop-up clinic in Dallas, Texas, in December 2022. The event provided essential healthcare services to over 500 underserved individuals, including dental, vision, and medical treatments, with nearly 140 participants receiving no-cost lab testing through Quest's Quest for Health Equity initiative. The estimated value of the services provided was approximately $2.1 million. The two-day clinic aimed to enhance community health awareness and empower individuals to take control of their health.

Quest Diagnostics has announced a partnership with Primary Care of Southwest Georgia (PCSG) to open its second school-based health center aimed at improving access to healthcare for underserved families. Supported by a grant from Q4HE, the health center will provide mobile COVID-19 testing and general healthcare services. This initiative also includes wellness screenings and chronic disease management, targeting public housing sites and community events. A new transportation van will help ensure students can access these critical services without parents needing to take time off work, significantly enhancing healthcare access in the Early County area.

Quest Diagnostics has been instrumental in providing COVID-19 testing for New York's first responders, including police officers and healthcare workers. During the pandemic's peak, they conducted serology testing to assess COVID-19 antibody prevalence among frontline workers. Following this, Quest set up six PCR testing sites within the NYPD precincts, ensuring quick access for officers, especially those with vaccination exemptions. Their efforts supported a graduation event for 800 police recruits, where testing was required. Antonio Luciano, the Territory Manager, emphasized the importance of these services in keeping essential workers safe while serving the community.

Quest Diagnostics is partnering with Project HOPE to enhance COVID-19 testing in vulnerable long-term care facilities. This collaboration aims to improve access to testing, reduce virus transmission, and address health inequities in marginalized communities. Funding from Quest for Health Equity (Q4HE) supports staffing, travel, and materials for the initiative. Testimonials highlight the assistance Project HOPE provided during past outbreaks, emphasizing the importance of resources in caring for residents. The partnership addresses significant health gaps, ensuring vulnerable populations receive essential health services amid ongoing challenges.

Quest Diagnostics (NYSE: DGX) has announced a multi-year partnership with Tower Health, a prominent healthcare system in Pennsylvania, to enhance diagnostic service quality and value. Under the agreement, Quest will provide laboratory supply chain expertise, including capital equipment purchasing and ongoing reference testing. This collaboration aims to support three of Tower Health's hospitals: Reading Hospital, Phoenixville Hospital, and Pottstown Hospital. Quest's CEO, Jim Davis, emphasized the importance of their expertise in helping hospitals navigate post-COVID-19 challenges and improve patient care.

Quest Diagnostics has expanded its support for Mobile Care Chicago through a grant that enables the organization to reach 10 new locations in the Chicago area. This initiative aims to provide essential healthcare services, including pediatric immunizations and asthma management, for underserved children. Mobile Care Chicago has been operational for 21 years, previously using two asthma vans and a dental van to assist children with complex health needs. The grant enhances their capability to serve vulnerable communities and demonstrates Quest Diagnostics' commitment to health equity in the region.

Quest Diagnostics (NYSE: DGX) and NewYork-Presbyterian announced a strategic agreement to enhance access to laboratory services in New York and the Tri-State Area. Under the agreement, Quest will acquire select assets of NewYork-Presbyterian's laboratory services, while the hospital will continue to operate its renowned labs, including anatomic pathology services. The transaction aims to leverage Quest's innovative clinical laboratory capabilities to improve patient care. Expected to close in Q2 2023, the deal is pending regulatory approvals, and financial details remain undisclosed.

Quest Diagnostics (NYSE: DGX) will hold an Investor Day on March 16, 2023, at the New York Stock Exchange, aimed at institutional investors and financial analysts. Key executives, including CEO Jim Davis and CFO Sam Samad, will discuss insights into the U.S. laboratory market, the company’s business strategy, capital priorities, and long-term outlook. Advance registration is required, and a live webcast will be available through Quest's Investor Relations website. An archived version of the event will also be accessible post-event, further emphasizing Quest’s commitment to transparency and investor engagement.