MADISON, N.J. and BEDFORD, Mass., June 6, 2013 /PRNewswire/ -- Quest Diagnostics (NYSE: DGX), the world's leading diagnostic information services company, and Hologic, Inc. (Hologic) (NASDAQ: HOLX), a leading developer, manufacturer and supplier of premium diagnostics products, medical imaging systems and surgical products, with an emphasis on serving the healthcare needs of women, announced today that they have entered into a strategic alliance to more broadly offer testing based on Hologic's APTIMA family of products, as well as to co-develop and promote advanced diagnostic solutions to improve women's health.
"This alliance will enhance the ability of Quest Diagnostics to deliver state-of-the-art testing methods and specialized expertise in women's health diagnostic information services," said Steve Rusckowski, President and Chief Executive Officer, Quest Diagnostics. "It builds on our long-standing successful relationship with Hologic to lead the way in delivering solutions that address the clinical challenges facing obstetricians and gynecologists in treating women. This collaboration also promises to increase the range of capabilities for advancing the health of women for both companies."
"This collaboration represents a potentially important new chapter in women's health diagnostics," said Rob Cascella, Hologic's President and Chief Executive Officer. "Quest Diagnostics' strong capabilities in diagnostic information services and laboratory and interpretive consulting, when combined with Hologic's technical expertise and product excellence, holds the potential for us to develop new capabilities for serving unmet clinical needs for women in other areas of cancer detection."
Under a non-exclusive agreement with an initial term of five years, the companies will focus primarily on clinical areas critical to the health of women. Quest Diagnostics will transition to a broader offering of services based on Hologic's APTIMA family of products, which includes FDA-approved or cleared assays for HPV, HPV genotyping, chlamydia, gonorrhea and trichomonas vaginalis. In addition, Quest Diagnostics will continue to utilize Hologic's leading line of ThinPrep liquid-based cytology products.
Quest Diagnostics will also continue to offer Hologic's APTIMA HPV mRNA-based assay nationally. Unlike other FDA-approved, DNA-based HPV tests, the APTIMA HPV assay detects messenger RNA over-expressed from two viral oncogenes that are integral to the development of cervical cancer. Hologic's APTIMA HPV assay detects E6/E7 viral mRNA from 14 high-risk types of human papillomavirus in cervical specimens (refer to package insert for other indications and limitations).
"Most HPV infections clear up on their own, so it's important to identify those persistent, high-risk infections that are most likely to lead to cervical cancer," said Tom Wright, MD, professor emeritus of pathology and cell biology at the Columbia University Medical Center. "In numerous clinical studies involving approximately 45,000 women, the APTIMA HPV mRNA assay has consistently shown similar sensitivity and better specificity than the most frequently used DNA-based test. This means the APTIMA HPV assay is highly accurate in detecting cervical disease, but is less likely to raise false alarms that can result in unnecessary medical procedures."
The companies will also explore opportunities to develop and expand access to new diagnostic solutions for women's health. In addition, they will implement joint programs to advance women's health issues with medical associations and patient advocacy groups and to sponsor research. Financial terms of the collaboration were not disclosed.
"Our relationship with Hologic also demonstrates our progress executing on our restore growth and operational excellence strategies," said Mr. Rusckowski, Quest's CEO. "With this alliance, we will strengthen the specialization and competitiveness of our women's health business. We are also working more closely and strategically with suppliers, and this alliance is the first under our new, highly rigorous supplier engagement model, which we unveiled at our first ever Supplier Forum in March."
About Quest Diagnostics
Quest Diagnostics is the world's leading provider of diagnostic information services that patients and doctors need to make better healthcare decisions. The company offers the broadest access to diagnostic information services through its network of laboratories and patient service centers, and provides interpretive consultation through its extensive medical and scientific staff. Quest Diagnostics is a pioneer in developing innovative diagnostic tests and advanced healthcare information technology solutions that help improve patient care. Additional company information is available at QuestDiagnostics.com. Follow us at Facebook.com/QuestDiagnostics and Twitter.com/QuestDX.
Quest, Quest Diagnostics, and all associated Quest Diagnostics registered or unregistered trademarks are the property of Quest Diagnostics. All third-party marks are the property of their respective owners.
About Hologic, Inc.
Hologic, Inc. is a leading developer, manufacturer and supplier of premium diagnostic products, medical imaging systems and surgical products, with an emphasis on serving the healthcare needs of women. The Company operates four core business units focused on diagnostics, breast health, GYN surgical and skeletal health. With a comprehensive suite of technologies and a robust research and development program, Hologic is committed to improving lives. The Company is headquartered in Massachusetts. For more information about Hologic, please visit www.hologic.com.
Hologic, APTIMA and ThinPrep are trademarks and/or registered trademarks of Hologic, Inc., and/or its subsidiaries in the United States and/or other countries.
Forward-Looking Statement Disclaimer
This News Release contains forward-looking information that involves risks and uncertainties, including statements about the plans, objectives, expectations and intentions of Quest Diagnostics and Hologic. Such statements include, without limitation, statements about the plans, objectives, expectations and intentions of Quest Diagnostics and Hologic, and other statements that are not historical facts. Forward-looking statements may contain words such as "expect," "believe," "may," "can," "should," "will," "forecast," "anticipate," or similar expressions (including their use in the negative), and include assumptions that underlie such statements. These forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including but not limited to the risk that the collaboration will not generate the results anticipated by the parties. The risks included above are not exhaustive. Each of Quest Diagnostics and Hologic expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements presented herein to reflect any change in the expectations of either company or any change in events, conditions or circumstances on which any such statements are based. Certain factors that could adversely affect the business and prospects of each of Quest Diagnostics and Hologic are described in the filings made by each party with the Securities and Exchange Commission.
Quest Diagnostics Contacts:
Wendy Bost (Media): 973-520-2800
Dan Haemmerle (Investors): 973-520-2900
Hologic Investor and Media Contacts:
Deborah Gordon, Vice President, Investor Relations: 781-999-7716
Al Kildani, Senior Director, Investor Relations: 858-410-8653