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Quest Diagnostics set a record in April 2009 when it paid $302 million to the government to settle a Medicare fraud case alleging the company sold faulty medical testing kits. It was the largest qui tam ( whistleblower ) settlement paid by a medical lab for manufacturing and distributing a faulty product. [ 51 ]
In October 2016, Labcorp acquired ClearPath Diagnostics, a provider of laboratory diagnostic services in the Northeastern United States, from Shore Capital Partners. [58] [59] In May 2017, Labcorp acquired Pathology Associates Medical Laboratories from Providence Health & Services and Catholic Health Initiatives. [60]
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The company completed the corporate spin-offs of Quest Diagnostics and Covance (now Fortrea) in January 1997. [3] Corning is one of the main suppliers to Apple Inc. Since working with Steve Jobs in 2007, to develop the iPhone; [4] Corning develops and manufactures Gorilla Glass, which is used by many smartphone makers.
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In 2013, the company acquired Shiel Medical Laboratory, expanding services to New York City metro area. In December 2017, the company sold this business to Quest Diagnostics. [15] In February 2019, the company acquired NxStage, a U.S.-based maker of in-home dialysis devices, for $2 billion. [16] [17]
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