Company Overview - Quest Diagnostics (DGX) has formed a joint venture with Corewell Health, named Diagnostic Lab of Michigan, LLC, to enhance access to laboratory services in Michigan [1][9] - The joint venture will operate from a 100,000-square-foot facility featuring advanced technologies such as automated microbiology and high-throughput molecular testing [4][9] Financial Performance - DGX shares increased by 1% following the announcement, closing at $180.36 [2][9] - The company has a current market capitalization of $20.10 billion, with a projected earnings growth of 9.9% for 2025 compared to 2024 [3] Strategic Initiatives - The joint venture is part of DGX's strategy to expand in growth areas through collaborations with leading health systems, building on successful laboratory joint ventures in other regions [2] - Quest Diagnostics will provide a full range of Collaborative Lab Solutions (Co-Lab) for Corewell Health's 21 hospital labs, including reference laboratory testing and laboratory management services [5] Industry Outlook - The global clinical laboratory services market is expected to reach $286.77 billion by 2030, growing at a CAGR of 3.82% from 2025 to 2030, driven by factors such as chronic disease prevalence and technological advancements [7][10] Recent Developments - Quest Diagnostics' Haystack MRD test for colorectal cancer has received Breakthrough Device Designation from the FDA, indicating its potential value in clinical and pharmaceutical applications [11]

Company Overview - Labcorp Holdings, headquartered in Burlington, NC, is a leading healthcare diagnostics company that provides comprehensive clinical laboratory services and end-to-end drug development support [11] - In 2015, Labcorp acquired Covance, a drug development services company that offers a wide range of early-stage and late-stage product development services primarily to the pharmaceutical and biotechnology industries [11] Investment Potential - Labcorp is currently rated 3 (Hold) on the Zacks Rank, with a VGM Score of A, indicating strong potential for growth investors [12] - The company is forecasted to achieve year-over-year earnings growth of 11.9% for the current fiscal year, supported by positive revisions from analysts [12] - Eight analysts have revised their earnings estimates higher in the last 60 days for fiscal 2025, with the Zacks Consensus Estimate increasing by $0.25 to $16.30 per share [12] - Labcorp has an average earnings surprise of +2.5%, further enhancing its attractiveness to investors [12] Summary of Style Scores - Labcorp's Growth Style Score is rated A, indicating strong financial strength and a positive future outlook [12] - The combination of a solid Zacks Rank and top-tier Growth and VGM Style Scores positions Labcorp as a noteworthy option for investors [13]