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Quest Diagnostics Incorporated is an American clinical laboratory. A Fortune 500 company, Quest operates in the United States , Puerto Rico , Mexico , and Brazil . [ 3 ] Quest also maintains collaborative agreements with various hospitals and clinics across the globe.
Labcorp has been criticized over faulty paternity tests, many of which have resulted in lawsuits. The most notable case was the 2005 false accusation of Washington hairdresser Andre Chreky, who spent $200,000 and years in court proving, despite a false-positive test, that he was not the father.
Clinical laboratory services includes large multinational corporations such LabCorp, Quest Diagnostics, and Sonic Healthcare [23] but a significant portion of revenue, estimated at 60% in the United States, is generated by hospital labs. [24] In 2018, the total global revenue for these companies was estimated to reach $146 billion by 2024. [25]
Quest Diagnostics (DGX) and LabCorp (LH) are engaged in a fierce battle to meet the sudden spike in demand of high-volume molecular diagnostic and antibody testing sparked by the coronavirus pandemic.
APP was founded in 2007 and incorporated in February 2008 by laboratory professionals, Edward Dooling and Thanasis Papaioanu, along with hospital executive, Martin Rash. Edward Dooling was formerly a senior executive with AmeriPath (now part of Quest Diagnostics) and DIANON Systems, Inc., (now part of LabCorp).
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In June 2021, the company changed its name to Labcorp Drug Development. [55] In February 2023, the company was renamed Fortrea Holdings. [56] In July 2023, Labcorp completed the corporate spin-off of the company. [57] In June 2024, the company sold its Endpoint Clinical and Fortrea Patient Access businesses to Arsenal Capital Partners. [58]
In 2015, Quest took over operations of the laboratory. [25] In August 2022, RWJBarnabas divested its laboratories to LabCorp. [26] [27] Residency
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