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Quest Diagnostics (DGX) has entered into a joint venture with Corewell Health to establish the Diagnostic Lab of Michigan, LLC. This venture aims to enhance access to quality and affordable laboratory services across Michigan. The agreement was signed recently, with the lab expected to begin operations in 2026.
Following the announcement, DGX shares increased by 1%, closing at $180.36 on Wednesday. Currently, Quest Diagnostics holds a market capitalization of $20.10 billion, with a projected earnings growth of 9.9% for 2025 compared to 2024. In the past year, DGX stock has risen by 15% against the industry’s flat growth.
The Diagnostic Lab of Michigan will occupy a 100,000-square-foot state-of-the-art facility in Southfield, featuring advanced technologies. The joint venture is part of Quest’s strategy to pursue growth opportunities through partnerships with leading health systems.
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