Quest Diagnostics 2008 Annual Report Download - page 6

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Committed to P U T T I N G P A T I E N T S F I R S T
in all that we do.
QUEST DIAGNOSTICS
04
EARNINGS PER
DILUTED SHARE*
’04
$2.32
’05
$2.79
’06
$3.14
’07
$2.84
’08
$3.23
Our business is changing and diversifying. Today, gene-based, esoteric and anatomic
pathology testing accounts for 36% of revenues compared to just 19% eight years ago.
Our healthcare IT subsidiary, MedPlus®
, has particular exper-
tise in providing technology that helps to connect physician
practices and other healthcare providers. MedPlus technol-
ogy is at the heart of the emerging North American digital
healthcare infrastructure, and is a key part of pub-
lic฀ health฀ information฀ exchanges฀ in฀ California,฀
New฀ York,฀ British฀ Columbia฀ and฀ New฀ Mexico.฀
Health information exchanges facilitate the
transfer of approved patient information among
healthcare providers to improve decision making
and outcomes, and reduce costs.
New Markets, New Geographies
Our business is changing and diversifying. As
recently as eight years ago, routine testing, which
includes complete blood counts and cholesterol
tests, accounted for three quarters of our revenues.
Today, it is just over half. In contrast, faster growing,
higher value, gene-based, esoteric and anatomic
pathology฀testing฀has฀increased฀to฀36%฀of฀revenues฀
from฀19%฀over฀that฀period.
We are expanding into new markets and geogra-
phies for longer term growth. Testing is moving
closer to the patient. Our point-of-care testing business is
growing, and we continue to introduce new products. We
launched฀in฀the฀ U.S.฀our฀HemoCue®฀CLIA-waived฀microal-
bumin point-of-care test, which is used to detect kidney fail-
ure.฀We฀also฀introduced฀in฀Europe฀a฀white฀blood฀cell฀testing฀
platform, which assists in the diagnosis of infection, and are
awaiting฀its฀CLIA฀waiver฀in฀the฀U.S.
In Ireland, through a national contract to perform cervical
cancer screening, we helped reduce “anxiety time”—the
amount of time women have had to wait to receive their Pap
test results—from six months to two weeks.
During 2008, we began offering services and products in the
growing market in India. We see significant opportunities
for us to strengthen the delivery of healthcare services in India
utilizing our quality diagnostics and technology expertise.
Patients, Growth, People
Our company is strong and growing. We have a successful
strategy฀ with฀ a฀ focus฀ on฀ Patients,฀ Growth฀ and฀ People฀ that฀
continues to provide us with a clear roadmap for the future.
Our฀ 43,000฀ dedicated฀ employees฀ are฀ committed฀ to฀ putting฀
patients first in all that we do. It is because of their hard
work that we are well prepared to take on the challenges
before us and further differentiate our company.
Thank you for your continued support and confidence.
Take care,
Surya N. Mohapatra, Ph.D.
Chairman,฀President฀and฀Chief฀Executive฀Officer
* from continuing operations