Quest Diagnostics, Inc.

Quest Diagnostics, Inc.

Quest Diagnostics, Inc.

Overview
Date Founded

1967

Headquarters

3 GIRALDA FARMS, MADISON, NJ, 07940

Type of Company

Public

Employees (Worldwide)

49K

Industries

Medical Support Services
IT Consulting & Services
Hospitals & Patient Services

Company Description

Quest Diagnostics, Inc. engages in the provision of diagnostic testing, information and services. It operates through the Diagnostic Information Services (DIS) and All Other segments. The DIS segment offers diagnostic information services to patients, clinicians, hospitals, health plans, and employers. The All Other segment consists of risk assessment services, healthcare information technology, diagnostic products, and clinical trials testing businesses. The company was founded in 1967 and is headquartered in Secaucus, NJ.

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Executives & Employees

Chairman, Chief Executive Officer & President

Executive Vice President & Chief Financial Officer

General Counsel

Secretary & Deputy General Counsel

Chief Human Resources Officer & Senior Vice President

Vice President, Corporate Controller & Chief Accounting Officer

Executive Vice President-General Diagnostics

Senior Vice President, Advanced Diagnostics

Senior Vice President, R&D, Medical & Chief Medical Officer

Senior Vice President & Group Executive, Clinical Franchise Solutions & Marketing

Board of Directors

Chairman, Chief Executive Officer & President at Quest Diagnostics, Inc.

President & Chief Executive Officer at Henry Ford Health System, Inc.

Former Senior Vice President & President-North America Soup, Sauces & Beverages at Campbell Soup Co.

Former Chairman & Chief Executive Officer at C. R. Bard, Inc. (New Jersey)

Senior Fellow at Project HOPE

President Emeritus at Bell Laboratories, Inc.

Director, President & Chief Executive Officer at Halozyme Therapeutics, Inc.

Co-Founder at Guidon Partners LP

Former President & Chief Executive Officer at Jabil, Inc.

Former Senior Managing Director, DuPont Japan, KK at DuPont

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Quest Diagnostics, Inc.
Owners & Shareholders
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Fiduciary Management, Inc. (“FMI”), founded in 1980, is an employee owned independent money management firm based in Milwaukee, Wisconsin. FMI’s equity investing strategies apply a value discipline, with a focused approach firmly rooted in fundamental research. As of 12/31/2012, FMI manages over $15.5 billion in assets for domestic and international institutions, individual investors, and Registered Investment Advisors through separately managed accounts and the FMI Family of Funds.

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David Advisors Davis Advisors manages client accounts using the following investment strategies: Large-Cap Value, Concentrated Equity, Multi-cap Equity, Financial services, International Companies, Global Companies, Real Estate Companies, Appreciation and Income, Government Securities, and Government Money Market Funds. The firm conducts extensive research to try to identify businesses that possess characteristics they believe foster the creation of long-term value, such as proven management, a durable franchise and business model, and sustainable competitive advantages. Davis Advisors seeks to invest in such businesses when they are trading at discounts to their intrinsic worth. Their goal is to invest for the long-term. They consider selling securities if the market price exceeds their estimate of intrinsic value, or if the ratio of the risks and rewards of continuing to own the company’s securities is no longer attractive.

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GMO, founded in 1977, is a privately held global investment management firm servicing clients in the corporate, public, endowment, and foundation marketplaces. As of December 31, 2012, we managed $106 billion* in client assets using a blend of traditional judgments with innovative quantitative methods to find undervalued securities and markets. Our success in consistently providing value added performance across a broad range of asset classes is founded on several key factors that include: discipline, value orientation, investment research, and constant innovation (see GMO Qualities below). Our broad-based value added over benchmarks has led many of our clients to request that we allocate assets and advise them on a global scale

Recent Transactions
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IQVIA Holdings, Inc. purchases Q2 Solutions from Quest Diagnostics, Inc.

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Quest Diagnostics, Inc. purchases Mercy LLC /Outreach Laboratory Services Business from Mercy LLC

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Quest Diagnostics, Inc. purchases Mid America Clinical Laboratories LLC from St. Vincent Hospital & Health Care Center, Inc., The Studer Family Children’s Hospital at Ascension Sacred Heart, Community Health Network, Inc. (Indiana)

Insider Transactions
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Transaction Advisors
Legal Advisor

Advised onQuest Diagnostics, Inc. purchases AmeriPath, Inc. from Welsh, Carson, Anderson & Stowe

Investment Advisor

Advised onQuest Diagnostics, Inc. purchases SmithKline Beecham Clinical Laboratories from Smithkline Beecham Plc

Auditor

Advised onQuest Diagnostics, Inc. issued USD Common Stock

Legal Advisor

Advised onQuest Diagnostics, Inc. purchases AmeriPath, Inc. from Welsh, Carson, Anderson & Stowe

Associate

Advised onQuest Diagnostics, Inc. purchases Athena Diagnostics, Inc. from Thermo Fisher Scientific, Inc.

Legal Advisor

Advised onQuest Diagnostics, Inc., Cleveland HeartLab, Inc. purchase True Health Diagnostics LLC /Richmond Laboratory Equipment from True Health Group LLC

Advisors & Consultants
Legal Advisor

Co-Chair, Litigation Practice Group at Gibson, Dunn & Crutcher LLP

Legal Advisor

Partner at O'Melveny & Myers LLP

Legal Advisor

Shareholder at Anderson Kill PC

Clients

Staten Island University Hospital is a 714-bed, specialized teaching hospital located in New York City's 5th and fastest-growing borough. Occupying two large campuses, plus a number of community-based health centers and labs, the hospital provides quality care to the people of Staten Island, the New York metropolitan region, and to patients from around the world. The 17-acre north campus (475 Seaview Avenue, Ocean Breeze) features the architecturally beautiful six-story Tower Pavilion; home of the renowned Heart Institute of Staten Island. The Heart Institute rivals the best cardiac centers in the nation, and offers advanced cardiothoracic surgeries, including "continuous beating heart" surgery plus sophisticated invasive and non-invasive diagnostics. The north campus also is home to the prestigious Nalitt Institute for Cancer and Blood-Related Diseases, which was New York State's very first freestanding ambulatory cancer care facility, and remains an innovator with leading-edge research protocols and a compassionate, caring ethic. Other vital north site locales include the multi-specialty Irving R. Boody, Jr. Medical Arts Pavilion, the hospital's Regional Burn Center with its deserved national reputation for pediatric burn care, plus a Trauma Center, Center for Women's Health, and widely-acclaimed programs for high-risk pregnancies and maternal care. The south campus (375 Seguine Avenue, Princes Bay) offers specialty programs that include Geriatric Psychiatry, the hospital's accredited Institute for Sleep Medicine, and a range of behavioral health and substance abuse services. Both campuses have 911-receiving Emergency Departments, and Staten Island's fully-modern, new Emergency Department and Education Center is currently under construction at the north site. Founded in 1861, Staten Island University Hospital today is a member of the North Shore-LIJ Health System, and enjoys numerous academic and clinical affiliations and accreditations.

Carilion Roanoke Memorial Hospital (CRMH) is a 703-bed hospital with an additional 60-bed Neonatal Intensive Care Unit. The facility recently completed a large expansion project, adding a new Emergency Department, Labor and Delivery unit and the Carilion Clinic Children’s Hospital complete with a Pediatric Emergency Room. Now in its second century of providing premiere healthcare services, CRMH also features a Level I trauma center. In addition to offering high-tech services, the hospital is also home to eight residency programs and two fellowship programs affiliated with the University of Virginia and Virginia College of Osteopathic Medicine (VCOM). Patients have access to nearby specialty clinics, family medical centers and a host of personalized treatment options, making this one of the region's most experienced group of healthcare providers.

Hackensack Meridian Health (HMH) is a network of healthcare providers in New Jersey, based out of Edison. Members include academic centers, acute care facilities, and research hospitals. Hackensack Meridian Health's goal is to create one integrated network that has changes how healthcare is delivered in New Jersey. The network was formed in 2016 by a merger between Hackensack University Medical Center and Meridian Health. Hackensack Meridian Health is affiliated with the Hackensack Meridian School of Medicine and maintains active teaching programs at its hospitals. After the acquisition of JFK Medical Center in Edison, HMH is now the largest healthcare provider in New Jersey.

Key Stats and Financials As of 2020
Market Capitalization
$16.7B
Total Enterprise Value
$20B
Earnings Per Share
$10.52
Revenue
$9.44B
Net Profit
$1.42B
EBITDA
$2.47B
EBITDAMargin
26.13%
Total Debt
$4.81B
Total Equity
$6.89B
Enterprise Value / Sales
2.12x
Enterprise Value EBITDAOperating
7.85x
TEVNet Income
14.03x
Debt TEV
0.24x
Three Year Compounded Annual Growth Rate Of Revenue
6.97%
Non-Profit Donations & Grants
$10K - $25K
2018
$2,500 - $4,999
2018
Non-Profit Donations & Grants Received
Political Donations
$500
2011
$1,000
2010
$1,000
2010
Investments
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Génomic Vision SA is a molecular diagnostics and technology company, which develops and commercializes research tools and tests for the early detection of cancers and genetic diseases. The firm's products include molecular combing platform and genomic morse code sets. The company was founded by Aaron Bensimon and Daniel Nerson on June 11, 2004 and is headquartered in Bagneux, France.

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Clinical Genomics Technologies Pty Ltd manufactures and sells healthcare solutions for the early detection and prevention of disease. The company was founded by Lawrence LaPointe, Richard J. Sands and Susanne K. Pedersen in September 2006 and is headquartered in North Ryde, Australia.

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Icebreaker Health, Inc. develops and operates mobile applications and platform to get medical prescriptions. Its services include birth control pills, erectile dysfunction, sinus infection, and hair loss prescriptions delivery. The company was founded by Paul Johnson and Ian Van Every and is headquartered in San Francisco, CA.

Investors
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President & Chief Executive Officer at Ilium Ventures LLC

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Co-Founder at Lexicon Pharmaceuticals, Inc.

Suppliers
Alexandria Real Estate Equities, Inc. Trusts & Funds | Pasadena, CA

Alexandria Real Estate Equities, Inc. is an urban office real estate investment trust. It engages in the ownership, operation, development, and redevelopment of life science and technology properties. The firm also provides a space for lease to the life science and technology industries, which are primarily located in AAA urban innovation cluster locations. The company was founded by Alan D. Gold, Gary A. Kreitzer, Joel S. Marcus, and Jerry M. Sudarsky in October 1994 and is headquartered in Pasadena, CA.

Vermillion, Inc. Hospitals & Patient Services | Austin, TX

Aspira Women's Health, Inc. engages in the provision of bio-analytic and diagnostic services. Its product, OVA1, is a serum test for identifying women of having malignant ovarian tumor. Its bio-analytical solutions helps physicians diagnose, treat, and improve gynecologic health outcomes for women. The company was founded on December 9, 1993 and is headquartered in Austin, TX.

Infoblox, Inc. Holding Companies | Santa Clara, California

Infoblox Inc. engages in the provision of cloud-managed network services. It offers network automation, core network services, and secure domain name system. The company was founded by Stuart M. Bailey in 1999 and is headquartered in Santa Clara, CA.

Competitors
Laboratory Corporation of America Holdings Medical Support Services - Burlington, NC

LabCorp provides leading-edge medical laboratory tests and services through a national network of primary clinical laboratories and specialized Centers of Excellence. Recognized for our innovation, quality, and customer convenience, LabCorp delivers timely, accurate results for improved patient care. With scientific expertise in esoteric testing, genomics, and clinical and anatomic pathology, LabCorp performs more than 1 million tests on more than 370,000 specimens each day. LabCorp is a pioneer in applying advances in medicine and science to laboratory testing, with more than 35 years of experience in serving physicians and their patients. LabCorp operates a sophisticated laboratory network, with corporate headquarters in Burlington, NC, and more than 30,000 employees nationwide. Our 220,000 clients include physician offices, hospitals, managed care organizations, and biotechnology and pharmaceutical companies. Laboratory Corporation of America Holdings is listed on the New York Stock Exchange (NYSE) under ticker symbol LH

Awards & Honors
Rank #358
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
Rank #358
2016
Fortune Magazine - Fortune 500 Companies
Sponsored by Fortune Magazine
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