TETERBORO, N.J., OCT. 30, 1998Quest
Diagnostics Incorporated (NYSE: DGX) today announced it has entered into an agreement with
Oxford Health Plans (NASD: OXHP) to provide its members with a broad range of laboratory
testing, information and services.
Under the agreement, Quest Diagnostics will serve as the Laboratory Network Manager for
outpatient laboratory services for Oxford members and will manage a network of select
laboratory service providers. Quest Diagnostics will also participate in the network as a
laboratory service provider. The long term agreement covers approximately 1.75 million
members of Oxford Health Plans.
"We are pleased to build on our long standing relationship by partnering with
Oxford to drive service quality improvements and efficiencies throughout its
network," said Kenneth W. Freeman, Chairman and Chief Executive Officer of Quest
Diagnostics. "Our QuestNet laboratory network management services clearly
provide added momentum to our strategy of becoming the preferred partner with large buyers
of health care services."
Quest Diagnostics is one of the nation's leading providers of diagnostic testing,
information and services to physicians, hospitals, managed care organizations, employers
and government agencies. The wide variety of tests performed on human tissue and fluids
help doctors and hospitals diagnose, treat and monitor disease. Its Nichols Institute unit
conducts research, specializes in esoteric testing using genetic screening and other
advanced technologies, performs clinical studies testing, and manufactures and distributes
diagnostic test kits and instruments. Quest Informatics collects and analyzes laboratory,
pharmaceutical and other data to help large health care customers identify and monitor
patients who are at-risk for certain diseases. Additional company information can be found
on the Internet at: www.questdiagnostics.com.
The statements in this press release which are not historical facts or information may
be forward-looking statements. These forward-looking statements involve risks and
uncertainties that could cause the outcome to be materially different. Certain of these
risks and uncertainties are listed in the Quest Diagnostics Incorporated 1997 Form 10-K
and subsequent filings.
QuestNet, Quest Diagnostics, Quest and the associated logo are service marks of Quest
Diagnostics Incorporated.