Quest annually serves one in three adult Americans and half the physicians and hospitals in the United States, and our 45,000 employees understand that, in the right hands and with the right context, our diagnostic insights can inspire actions that transform lives. Derived from the world's largest database of clinical lab results, our diagnostic insights reveal new avenues to identify and treat disease, inspire healthy behaviors and improve health care management. Quest Diagnostics (NYSE: DGX) empowers people to take action to improve health outcomes. Conducting operations in approximately 100 countries, Quintiles is a member of the FORTUNE 500 and has been named to FORTUNE’s list of the “World’s Most Admired Companies.” To learn more, visit About Quest Diagnostics
From advisory through operations, Quintiles is the world’s largest provider of product development and integrated healthcare services, including commercial and observational solutions. Quintiles (NYSE: Q) helps biopharma and other healthcare companies improve their probability of success by connecting insights from our deep scientific, therapeutic and analytics expertise with superior delivery for better outcomes. To learn more about Q 2 Solutions, please visit About Quintiles These elements are foundational to Q 2 Solutions’ promise to help customers improve human health through innovation that transforms science and data into actionable medical insights.” “Q 2 Solutions provides customers with industry-leading scientific expertise, a large global laboratory network, and a relentless focus on superior quality delivery to achieve better patient outcomes. “Today is a milestone day for Q 2 Solutions as well as the broader biopharmaceutical industry that we serve,” said Panagos. The company’s chief executive officer, Costa Panagos, most recently served as senior vice president and global head of Global Laboratories and Cardiac Safety Services at Quintiles. Q 2 Solutions’ experienced management team comprises proven leaders from both Quintiles and Quest Diagnostics.
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The two parent companies also have entered into a period of exclusive collaboration to explore how to use their data assets to enhance areas such as clinical trial patient recruitment and retention, clinical trial design as well as companion diagnostic development and commercialization. “This transaction is consistent with Quest’s five-point strategy, because it allows us to maximize the value of our clinical trials assets in a capital-efficient manner while refocusing on our core diagnostic information services business.” Q 2 Solutions is well positioned to generate significant advances in these areas to benefit biopharmaceutical customers and patients,” said Steve Rusckowski, president and chief executive officer, Quest Diagnostics. “Clinical laboratory services are central to advances in genomics, precision medicine and drug development. “This new organization is built upon the strong foundation of its parent companies and provides customers with access to an innovative, progressive and responsive partner with the quality focus, global experience, and deep medical expertise integral to drug development.” “Q 2 Solutions harnesses the complementary strengths, expertise and scale of two industry leaders,” said Tom Pike, chief executive officer, Quintiles. Quintiles, the world’s largest provider of product development and integrated healthcare services, owns 60% and Quest Diagnostics, the world leader in diagnostic information services, owns 40% of the two separate legal entities that comprise Q 2 Solutions. If Q 2 Solutions had been a stand-alone business in 2014, the organization would have generated approximately $575 million in annual revenues. Q 2 Solutions is strongly positioned as the second-largest central laboratory services company in the world and provides services to customers across all segments of the biopharmaceutical industry – a group that includes all of the top-20 largest biopharmaceutical companies. Closes previously announced clinical trials laboratory services joint venture transaction
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