http://s6/middle/6441f693nb162aabd3b05&690Diagnostics）" TITLE="奎斯特诊断公司（Quest Diagnostics）" />

http://s10/middle/6441f693nb162ab72b869&690Diagnostics）" TITLE="奎斯特诊断公司（Quest Diagnostics）" />

利润复合增速还可以，10年的CAGR是18%。

http://s7/middle/6441f693nb162596f5646&690Diagnostics）" TITLE="奎斯特诊断公司（Quest Diagnostics）" />

1996.11.30 收盘是3块多。

近几年均价是50多块。

http://s6/middle/6441f693nb16290925d85&690Diagnostics）" TITLE="奎斯特诊断公司（Quest Diagnostics）" />

注意：医院提供的独立实验室占据60%的临床诊断市场，Quest只占据15%的市场份额。

10年净收入的来源，大头（91%）还是诊断服务，剩下的IT，临床测试，寿险等。

常规的诊断超过50%，解剖病理超过10%，基因和复杂检测超过20%。

 http://s3/middle/6441f693nb162b345f792&690Diagnostics）" TITLE="奎斯特诊断公司（Quest Diagnostics）" />

奎斯特诊断公司（Quest Diagnostics）是美国最大的临床诊断公司，也是是著名的生化医疗器材测试商。这家公司发起于1967年，期间经历多次并购，1996年在美国纽交所上市。Quest在美国拥有31个区域性大型诊断中心，155家快速反应实验室，超过2100个病人服务中心，每年诊断超过1亿个标本。

　　奎斯特诊断公司为健康护理专业人员提供专业知识，协助他们做出正确诊断，来改善病患的健康状况。这家公司透过所属的实验室和病患服务中心，为美国地区的民众提供诊断测试服务，并透过其人数众多的医疗和科学员工提供详尽的咨询服务。

　　目前，美国前三名公司的市场占有率超过60％，市场集中度很高。在欧美和日本等发达国家，独立实验室已经占据临床检验市场的1/3。而中国99％的检验业务仍在医院检验科完成。但相比Quest拥有的3000多项检验项目，中国的大型医院也只有500—1000个项目。2006年收入63亿美元。

Leverage our unparalleled assets and capabilities. We are the world leader in the clinical testing business
and the leading cancer diagnostic testing provider. We offer the broadest test menu, with more than 3,000
tests (3000多项测试项目), and are the leading provider in the United States of gene-based and esoteric testing. We have the
most extensive clinical testing network in the United States, offering national access to testing services.
We operate a nationwide network of over 2,000 of our own patient service centers where we collect
patient specimens（2000多个病人服务中心，用于收集病人检测标本）, and laboratories in most major metropolitan areas. We provide anatomic pathology
services, including inpatient anatomic pathology and medical director services at hospitals, throughout the
United States. We have a medical and scientific staff of approximately 900 M.D.s and Ph.D.s（900个硕士和博士）, primarily
located in the United States, many of whom are recognized leaders in their field. We serve approximately
half of the physicians and half of the hospitals in the United States. We also operate approximately 75
locations in the United States and Canada where we coordinate the provision of paramedical examinations
related to life insurance applications（75个用于寿险的体检中心）. We have strong logistics capabilities, including approximately 3,200
courier vehicles and over 25 aircraft that collectively make approximately 80,000 stops daily.（3200辆快递车辆和25架飞机） We have
approximately 8,900 phlebotomists and a network of approximately 5,275 contracted paramedical
examiners. We plan to continue to enhance our test menu and service capabilities. We believe that
customers and payers prefer providers that offer a comprehensive and innovative range of tests and
services and the most convenient access to those services and that, by offering such services, we will be
able to profitably enhance our market position.

We see significant opportunity to use diagnostics for personalized medicine. For example, our clinical
trials business has biomarker capabilities that advance our efforts to develop companion diagnostics for
new therapies that will foster personalized patient treatment.

（如果未来进入个性化医药时代，诊断数据是否是很重要的资源？）

We empower healthcare organizations and clinicians with information technology solutions that can help
improve patient care and medical practice, through our Care360TM suite of products, our Centergy Data
Exchange and the ChartMaxx electronic document management system for hospitals. We provide
interoperable technologies that help healthcare organizations and physicians enter, share and access clinical
information without costly IT implementation or significant workflow disruption. These solutions offer
access to a large national healthcare provider network, including approximately 160,000 networked
physicians using Quest Diagnostics’ Care360 connectivity products. The Care360 products, including our
Care360 Labs and Meds, enable physicians electronically to order diagnostic tests and review test results
from Quest Diagnostics and electronically to prescribe medication. Our Care360 EHR product allows
physicians to generate a complete record of a clinical patient encounter, automates and streamlines the
clinician’s workflow, and allows for rapid deployment and implementation with minimal workflow
disruption. We believe that these products enhance the value we provide to our customers and result in
increased customer loyalty by providing more convenient ordering and reporting of clinical tests, greater
convenience in electronically prescribing medication and better access to clinical information.

（IT系统和相应的病人诊断数据的重要性）

Deliver a superior patient experience. The patient is at the center of everything we do. Increasingly,
patients have a choice when it comes to selecting a healthcare provider and we strive to give patients
compelling reasons to put their trust in us. We have made significant investments in training our
employees to provide a superior patient experience. We believe that this will drive patient and physician
loyalty. We are a leader in providing patients with advanced tools to manage their healthcare and medical
information. Our automated patient appointment scheduling enables patients to schedule appointments,
including via mobile devices, at times that are convenient for them while essentially eliminating their
waiting time.（通过手机和网站等方式，让病人可以预约诊疗） We believe that we are the only national clinical test provider that offers this service in
almost all of its patient service centers. We also offer TestMinderTM, which sends email reminders to
patients that require frequent testing. In 2010, we introduced GazelleTM, a secure mobile health platform
that allows users to receive their Quest Diagnostics laboratory results and manage their personal health
information directly from their smartphone. We also collaborate with KeasTM, Microsoft HealthVaultTM
and Google HealthTM in connection with their personal health records offerings.

Expand our diagnostic scope. Technology advances are enabling testing to move closer to the patient and
point-of-care, or near patient, tests are becoming increasingly available and reliable. This enables moretimely and effective decisions, with the opportunity to improve patient care and reduce medical costs. We
have three businesses that offer point-of-care testing: HemoCue, Focus Diagnostics and Enterix. We intend
to expand our product menus, develop novel technology platforms and systems to meet the needs of our
clients and pursue potential additional acquisitions to supplement our offering. Test results from our pointof-
care products can be entered into our Care360 system, enabling the integration of tests performed in a
near patient setting with those performed in our laboratories. We are well positioned to offer choice and
integrated solutions to physicians, hospitals, clinics and retail customers for the testing methods that are
most appropriate for each patient and practice

（未来病人会更多的自助进行检测，这些检测结果可以并入实验室检测结果，完整的记录病人的信息，为后续治疗和药品开发提供帮助）

 We perform routine testing through our network of major laboratories and rapid response laboratories.
Rapid response laboratories are smaller facilities where we can quickly perform an abbreviated menu of routine
tests for customers that require rapid turnaround times. （快速反映实验室，提供精简快速的测试，加快检测速度）We also perform routine testing at hospital laboratories
that we manage. We operate laboratories 24 hours a day, 365 days a year, performing and reporting most routine
tests within 24 hours.（365*24服务，24小时出检测结果） The majority of test results are delivered electronically.（电子发送检测结果）
Routine tests measure various important bodily health parameters such as the functions of the kidney, heart,
liver, thyroid and other organs. Commonly ordered tests include:
• blood chemistries, including cholesterol levels;（血液，包括胆固醇级别）
• complete blood cell counts;（完整的血细胞计数）
• urinalyses;（小便）
• pregnancy and other prenatal tests;（怀孕和胎儿期）
• routine microbiology testing;（微生物）
• prescription drug monitoring;（处方药监控）
• alcohol and other substance-abuse tests; （酒精和其他滥用物品的检测）and
• allergy tests such as the ImmunoCap test.（过敏）

Gene-Based and Esoteric Testing. We are the leading provider in the United States of gene-based and
esoteric testing. Gene-based and esoteric tests increasingly are ordered by physicians to assist them in the
diagnostic process, to establish a prognosis and to choose or monitor a therapeutic regimen. Esoteric tests include
procedures in the areas of molecular diagnostics, protein chemistry, cellular immunology and advanced
microbiology. Commonly ordered esoteric tests include viral and bacterial detection tests, drug therapy monitoring
tests, autoimmune panels and complex cancer evaluations. Esoteric tests typically require professional “hands-on”
attention from highly-skilled technical personnel, generally require more sophisticated technology, equipment or
materials and may be performed less frequently than routine tests. Consequently, esoteric tests are generally
reimbursed at higher levels than routine tests. It is not practical, from a cost-effectiveness or infrastructure
perspective, for most hospitals, commercial laboratories or physician office laboratories to develop and perform a
broad menu of esoteric tests, or to perform low-volume esoteric testing in-house. Such tests generally are
outsourced to an esoteric clinical testing laboratory, which specializes in performing these complex tests. We
conduct complex and specialized testing, including molecular diagnostics, in our world renowned Quest
Diagnostics Nichols Institute laboratory facilities, and in a number of other locations, including
Focus Diagnostics.
Our esoteric laboratories provide reference testing services to physicians, large academic medical centers,
hospitals and other commercial laboratories. Our esoteric testing laboratories perform hundreds of complex tests
that are not routinely performed by our regional laboratories, including but not limited to the following fields:

• endocrinology and metabolism (the study of glands, their hormone secretions and their effects on body
growth and metabolism);
• genetics (the study of chromosomes, genes and their protein products and effects);
• hematology (the study of blood and bone marrow cells) and coagulation (the process of blood clotting);
• immunogenetics and human leukocyte antigens (solid organ and bone marrow transplantation; eligibility
for vaccines; selection of pharmacotherapeutic agents and immunotherapy);
• immunology (the study of the immune system, including antibodies, cytokines, immune system cells and
their effect, receptor systems and autoimmune diseases);
• microbiology and infectious diseases (the study of microscopic forms of life, including parasites, bacteria,
viruses, fungi and other infectious agents);
• oncology (the study of abnormal cell growth, including benign tumors and cancer);
• serology (a science dealing with body fluids and their analysis, including antibodies, proteins and other
characteristics); and
• toxicology (the study of chemicals and drugs and their adverse effects on the body).
We also offer gene-based tests for the predisposition, diagnosis, treatment and monitoring of cancers. We
believe that offering a full range of gene-based and other esoteric tests strengthens our market offering and
market position and enhances our reputation as the nation’s leading test provider.

迪安诊断的未来我想不会只有医疗鉴定，它应该是一个品牌，旗下应该有迪安诊断、迪安鉴定、迪安检验、迪安医疗、迪安保健等众多依靠这个诊断平台建立起来的相关业务，迪安的胃口也不仅仅只局限在医疗诊断和司法鉴定这两项上，正如董事长所说，要吃着碗里的、看着锅里的、想着田里的，也希望迪安诊断能象苏宁电器一样以不断超预期的增长速度回报投资者，谢谢。