Quest Diagnostics (DGX) investor relations material

Volume and market share trends

• Achieved 92% national coverage, gaining access in four additional states, driving share gains and increased capture in those regions.

• Share gains in the physician testing market attributed to broader coverage, comprehensive test menu, and competitive pricing, benefiting payers, patients, and employers.

• Acquisitions of physician outreach businesses and cost-effective operations have supported organic and inorganic growth.

• Hospital market share gains driven by Collaborative Lab Solutions (Co-Lab), with health systems outsourcing lab management for efficiency and cost reduction.

• Co-Lab partnership with Corewell Health covers over 20 hospitals, expected to add $250 million in revenue in 2026, with margins ramping from low single digits to 12-13% by the second year.

Test mix, innovation, and specialty growth

• Tests per requisition have increased from 3.5 to 4.5 over the past decade, driven by advanced diagnostics and expanded screening guidelines.

• Growth in high-value specialty areas: oncology, brain health, autoimmune, women's health, and cardiometabolic, with high-growth tests nearing $1 billion in size and growing in the high teens percentage.

• Key specialty tests include AD-Detect for brain health, ANAlyzeR for autoimmune disorders, Haystack MRD for oncology, and advanced cardiometabolic panels.

• Haystack MRD test launched commercially in April 2025, now supported by 40+ dedicated reps, with strong feedback on detection capabilities and reimbursement in place.

• Continued commercial ramp and Medicare Advantage coverage are next milestones for Haystack, targeting share in a $1 billion and growing MRD market.

Technology, AI, and operational initiatives

• AI and automation deployed in three end-to-end automated labs, enhancing sample sorting, accessioning, and diagnostic workflows.

• AI algorithms assist in cytology, microbiology, and pathology, improving speed and accuracy of diagnoses.

• Patient-facing AI tools, such as a language model chatbot in the MyQuest app, enable interactive result interpretation.

• AI-driven dynamic route optimization improves logistics efficiency for both air and ground transport.

• Project Nova, a large-scale lab information system rollout with Epic, is on track, with staggered implementation through 2027 and expected benefits in integration, onboarding, and denial management.