quest diagnostics 99annualreport

Quest Diagnostics acquired SmithKline Beecham Clinical Laboratories in 1999, making it the clear leader in diagnostic testing in the US. Net income excluding special items was $41.2 million in 1999 compared to $26.9 million in 1998 due to the acquisition. However, after special items related to the acquisition, the company reported a net loss of $3.4 million. The company's strategy is focused on capitalizing on its position in diagnostic testing, becoming a leading provider of medical information by leveraging its large database of test results, and becoming recognized as the quality leader in healthcare services.