Quest Diagnostics Test Prices

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Quest Diagnostics Inc. DGX, +0.49% said on Thursday that despite greater-than-expected proposed cuts to Medicare reimbursement for lab tests, the company should still meet the guidance it has set for coming years. Quest shares rose 0.9% in premarket trade. Though Quest disagrees with the proposed cuts, which it said do not represent market-based rates, "In whatever form CMS might implement [the Protecting Access to Medicare Act], we remain confident in our ability to meet the long-term commitments outlined at our 2016 Investor Day," said Chief Executive Steve Rusckowski, referring to the raised outlook for profit and revenue growth between 2017 and 2020 that the company set in November 2016.

Quest third-quarter earnings declined to $161 million, or $1.15 per share, from $192 million, or $1.34 per share in the year-earlier period. Adjusted earnings-per-share were $1.39, above the FactSet consensus of $1.35. Revenue rose to $1.93 billion from $1.89 billion, above the FactSet consensus of $1.92 billion. The company also narrowed its 2017 outlook due to the impact of three recent hurricanes.

It now expects revenue of about $7.71 billion, compared with previous outlook of $7.69 billion to $7.74 billion, and adjusted EPS of $5.62 to $5.67, compared with previous outlook of $5.62 to $5.72. Quest shares have dropped 16.3% over the last three months, compared with a 3.5% rise in the S&P 500 SPX, +0.81%

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Quest Diagnostics and Stop & Shop Partner to Offer QuesTest™ Consumer Health Testing Services in Connecticut Quest Diagnostics Incorporated and the Stop & Shop Supermarket Company today launched QuesTest™ consumer health testing services in more than 60 Stop & Shop Pharmacies throughout Connecticut. QuesTest™ health testing is a revolutionary concept in consumer-driven health care that now offers Stop & Shop customers an important new way to take charge of their health through commonly ordered screening tests that they choose for themselves.

QuesTest™ lab services help answer a broad need for consumers to obtain baseline personal health information about themselves. QuesTest™ lab services are a service of Quest Diagnostics, the nation's leading provider of diagnostic testing, information and services. Stop & Shop customers can walk into any Stop & Shop Pharmacy in Connecticut and select QuesTest™ lab service cards from a menu of 12 popular health-screening tests.

Once purchased, the service cards must be registered by phone or through a secure website, enabling customers to visit any of Quest Diagnostics' 71 Patient Service Centers that are conveniently located throughout Connecticut to have their specimens collected. No appointment is necessary. Testing is performed at Quest Diagnostics' full-service regional laboratory in Wallingford, which physicians and medical centers throughout the state rely on for quality laboratory testing.

QuesTest™ customers can choose from either of two ways to obtain their own test results -- both of which are private and confidential. QuesTest results are provided directly to customers in as little as 48 hours on-line or approximately five days by mail. Test reports provide explanations that are easy for consumers to understand, and all materials emphasize that testing information is best understood in the context of a doctor-patient relationship.

If test results indicate a serious or life threatening condition, an independent physician licensed in Connecticut will notify the customer immediately and recommend seeking medical treatment. Prices for QuesTest™ lab services vary by test. In general, QuesTest™ services range in price from as low as $40 for some single tests, such as the Heart Risk Panel, the Thyroid Health Screen and the Liver Health Screen up to $115 for the most comprehensive health profiles, which include the Women's Health Profile and the Men's Health Profile.

"Stop & Shop is committed to helping our customers find better ways to improve and maintain their health," commented John Fegan, Vice President of pharmacy for Stop & Shop. "By providing access to QuesTest™ consumer health testing services in our Connecticut pharmacies, we are providing a convenient way to help our customers obtain important information about their health." "QuesTest™ consumer lab testing services tap directly into the megatrend that's hitting the health care world -- more empowered consumers choosing to take control over their own health, just like they've taken charge of their own personal finances," said Kate Langevin, Director of Consumer Health for Quest Diagnostics.

"We are excited to offer this service to Stop & Shop customers in Connecticut." Ms. Langevin added: "Our research indicates that there are a whole variety of reasons that people will purchase QuesTest™ services. Some will be attracted to how conveniently and quickly they can get their results. Many individuals will want testing done more frequently than their insurance company will cover. Others want to prepare for their annual visit to the doctor's office.

" Customers may purchase QuesTest™ lab services at any of the following Stop & Shop pharmacies conveniently located at the following addresses: 100 Division Street, Ansonia, CT 06401 22 Leetes Island Road, Branford, CT 06405 2600 Madison Avenue, Bridgeport, CT 06606 4531 Main Street, Bridgeport, CT 06602 781 Pine Street, Bristol, CT 06010 657 Farmington Avenue, Bristol, CT 06010 215 E.

Main Street, Clinton, CT 06413 99 Linwood Avenue, Colchester, CT 06415 35 Shunpike Road, Cromwell, CT 06416 72 New Town Road, Danbury, CT 06810 940 Silver Lane, East, Hartford, CT 06108 370 Hemingway Ave., E. Haven, CT 06512 54 Hazard Avenue, Enfield, CT 06082 1160 King's Hwy Cutoff, Fairfield, CT 06430 55 Oak Street, Glastonbury, CT 06033 215 Glastonbury Blvd., Glastonbury, CT 06033 120 Salmon Brook Street, Granby, CT 06035 220 Route 12, Groton, CT 06340 2335 Dixwell Avenue, Hamden, CT 06514 1245 Dixwell Avenue, Hamden, CT 06514 150 New Park Avenue, Hartford, CT 06106 136 Samson Rock Drive, Madison, CT 06443 286 Broad Street, Manchester, CT 06040 485 Broad Street, Meriden, CT 06450 416 Main Street, Middletown, CT 06457 855 Bridgeport Avenue, Milford, CT 06443 42 East Town Road, Milford, CT 06460 727 Rubber Av.

, Mt. View Plaza, Naugatuck, CT 06770 1309 Corbin Avenue, New Britain, CT 06053 112 Amity Rd, Amity Plaza, New Haven CT 06525 180 Danbury Road, New Milford, CT 06776 44 Fenn Road, Newington, CT 06111 228 S. Main Street, Newtown, CT 06470 79 Washington Ave, North Haven, CT 06473 385 Connecticut Avenue, Norwalk, CT 06856 380 Main Street, Norwalk, CT 06850 42 Town Street, Norwich, CT 06360 Rte 1 & Elm St.

, Old Saybrook, CT 06475 259 Bull Hill Lane, Orange, CT 06477 15 Franklin Street, Seymour, CT 06762 Bridgeport Ave, Shelton, CT 06484 498 Bushy Hill Road, Simsbury, CT 06070 505 N. Main Street, Southington, CT 06489 2200 Bedford Street, Stamford, CT 06905 200 E. Main Street, Stratford, CT 06497 211 High Street, Torrington, CT 06790 100 Quality Street, Trumbull, CT 06611 10 Pitkin Road, Vernon, CT 06066 Rte 5 & N.

Colony Road, Wallingford, CT 06492 410 Readville Drive, Waterbury, CT 06705 920 Wolcott Street, Waterbury, CT 06705 240 Chase Avenue, Waterbury, CT 06704 117 Boston Post Road, Waterford, CT 06385 763 Straits Turnpike, Watertown, CT 06795 44 Lake Ave. Extension, West Danbury, CT 06810 1790 Post Road East, Westport, CT 06880 1380 Berlin Turnpike, Wethersfield, CT 06109 680 Silas Deane Hwy, Wethersfield, CT 06109 1391 Main Street, Willimantic, CT 06226 1095 Kennedy Road, Windsor, CT 06095 200 New Hartford Road, Winsted, CT 06098 In addition, consumers are encouraged to visit the QuesTest™ web site at www.

questest.com to access in-depth information on all aspects of health testing; register for QuesTest™ services purchased; securely obtain their confidential test results online; and find the full list of Quest Diagnostics Patient Service Center locations in Connecticut, as well as the complete test menu. For more information about QuesTest™ lab services, consumers also are invited to visit the Stop & Shop Pharmacist or to call QuesTest™ toll-free at 1-877-QUESTEST (783-7837).

About Stop & Shop The Stop & Shop Supermarket Company, based in Quincy, Massachusetts, employs more than 57,000 associates and operates 335 stores with 244 pharmacies throughout Connecticut, Massachusetts, New Jersey, New York and Rhode Island. Additional company information is located at www.stopandshop.com. About Quest Diagnostics Quest Diagnostics Incorporated, the provider of QuesTest™ consumer health testing services, is the nation's leading provider of diagnostic testing, information and services, providing insights that enable physicians, hospitals, managed care organizations and other healthcare professionals to make decisions to improve health.

The company offers patients and physicians the broadest access to diagnostic laboratory services through its national network of laboratories and patient service centers. Quest Diagnostics is the leading provider of esoteric testing, including gene-based medical testing, and empowers healthcare organizations and clinicians with state-of-the-art connectivity solutions that improve practice management.

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 actual results and outcomes to be materially different. Certain of these risks and uncertainties may include, but are not limited to, unanticipated expenditures, changing relationships with customers, suppliers and strategic partners, conditions of the economy and other factors described in the Quest Diagnostics Incorporated 2002 Form 10-K and subsequent filings.

SOURCE: Quest Diagnostics Incorporated; Stop & Shop Supermarket Company CONTACT: Laure Park (Investors), +1-201-393-5030, Jennifer Somers(Media), +1-201-393-5700, both of Quest Diagnostics; Kelly O'Connor (Media) ofStop & Shop Supermarket Company, +1-617-770-6037 Web site: http://www.questest.com/http://www.questdiagnostics.com/http://www.stopandshop.com/

Hazel Gordon

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