Recent Acquisition Activity Supports Robust Growth at Quest Diagnostics

Quest Diagnostics is a leading provider of independent diagnostic testing in the United States thanks to its network of roughly 2,300 patient service centers across the country. We think its size and cost advantage allow Quest to benefit from several secular trends, including the proliferation of diagnostic tests and greater clinical reliance on personalized therapies. Additionally, Quest is enjoying a reprieve from Medicare-related pricing pressure as regulators tinker with the method for setting lab test reimbursement rates.