Quest labs closed (or closing)

And before he came on board, Quest was #2 in market cap. So, what you're saying is that he has made it #1.

 

When is that expected to happen?

 

No, I'm sure Dean Wormer said it to Flounder.

 

Any other updates on closings (Atlanta?, others?) from this almost bankrupt (Moral and financial) company?
Is this going to be taken over by private equity (Vultures like Icahn?)

 

DGX's $3B in Goodwill, compared to smaller LabCorp's $4.5B in Goodwill?

Nice try, sad little troll.

 

No troll, read the balance sheet-Quest has 6.5 Billion!(Goodwill, intangibles).

So really worth nothing-in fact it should just close down with such a huge hole, instead of taking investors for a ride. Or sell it to private equity, and give shareholders a few pennies each (if they are lucky and able to sell Quest). And let employees earn a decent wage.

 

Close them all!! Rotten bastards every single one of upper management! !! There is no transparency there!! Old boy's network and nepotism run rampant! The only way to make a better Quest is to get rid of the bums that have been there 20+ years and are coasting by till retirement those useless douchebags!!

 

Quest plans to buy Solstas, I'm speculating already in the works and probably final by January. It would be a smart move for them. With the managed care coverage they offer and footprint. Makes sense. Maybe the only one that does.

 

Wow! I bet you trade on E-Trade along with those babies.

Your interpretation of a balance sheet certainly gives us that impression.

 

Impressive foresight. The Solstas lab in Greensboro performs more tests in-house than Tucker which means lowered costs of testing. And Greensboro reports out results for the majority of clin lab tests the next day. They just built a new state of the art lab with the ability to handle a very large volume. It'll be interesting to see what happens.

 

Sounds like you work at the Greensboro lab??

 

The amount of business being acquired with the Solstas buyout is relatively equal to volume currently tested in Tucker. I've been through both labs and can tell you they are relatively equal in technology and capacity with Tucker having better workflow.

The Tucker lab will not close. Quest will transition Solstas clients in Georgia, Tennessee and Alabama over to Tucker, GA, pretty quickly. The Birmingham lab will become a STAT lab.

Quest will transition Solstas business in FL to the Florida BU.

Quest will transition Solstas business in KY to the north.

Quest will transition Solstas business in Maryland and parts of Virginia to Chantilly.

Quest will leave Greensboro open, scale it back and use it to service North Carolina and South Carolina only. Greensboro will then sendout the same testing that Tucker currently sends out to California and other Quest sites. Greensboro will mirror Tucker but on a much, much smaller scale. Quest will eventually lose a lot of the acquired Solstas business through attrition and will then further scale back the Greensboro lab. Greensboro will be a RRL in 3 years.

Spectrum Air will go away.

90% of Solstas couriers and vehicle fleet will go away within 3-6 months.

Quest will transition Solstas offices off Atlas and CareEvolve within 3-12 months. Quest will not pay third party companies to use their technology when they already own Care360.

Quest will re-evaluate all Solstas phlebotomist accounts for profitability. >30% of Solstas Phlebotomist's will be downsized or hours reduced within 6 months. Solsas Team Leads are gone within 3 months. Most Solstas phlebotomy Supervisors are gone within 3 months.

Quest will consolidate billing systems, review all Solstas pricing and adjust pricing upward for many of the Solstas clients who have ridiculously low, below COT pricing in place.

Quest will close Solstas PSC's throughout the region. 80% of Solstas PSC's will close within 6-12 months.

I could go on and on but you get the picture....

Oh, and virtually no Solstas MAE's will survive 3 months! And you WILL NOT get paid out 12 months on the business you closed for Solstas im the past 9 months. Quest doesn't owe you that money. Most CRS's will be gone in 12 months or less. And you will have all signed new non-competes by then.

This is going to be a bloodbath, Quest is the conquering army and Solstas is the little Indians.

Strap in for the ride!

 

This is exactly why Quest is hated in the market. Arrogance is all you guys are about. You would be lucky to have several of the Sales and Service reps from Solstas. It won't be so funny when LabCorp pulls that UHC deal right after the purchase.

 

The UHC contracts will most definitely be pulled. UHC is already sending out communications stressing their relationship with LCA as their exclusive national vendor. Immediately after the Quest buyout of SLP receives final approval there will be additional communication stating that Solstas is now a Quest lab and therefore no longer in-network for any UHC plan.

On the flip side, AETNA has already done the exact same in relation to communicating their exclusive national agreement with Quest by specifically and individually excluding by name each and every subsidiary lab owned by LCA i.e. Dianon, etc. Every AETNA patient is out-of-network for EVERY LabCorp facility.

Every Solstas UHC patient will be out-of-network from day 1 with Quest Diagnostics.

 

You have no idea how Quest operates. We have no intention of running lower volume tests in every BU lab just to get the next day TAT you mention. With Quest it's all about driving down the COT through driving volume into specific sites when it comes to those lower volume tests.

And about your "new state of the art lab", is it also "world class", "gold standard" and a "center of excellence"? If so, then you've definitely gulped down the company Kool-Aid of cliches.

Why don't you "think outside the box" and "own your performance" while you're at it? All you have to do is "just do it". After all, Solstas is clearly "Your Lab. For Life." and you deliver "The Solstas Difference.", right?

You Solstas people have no idea how the world is getting ready to come crashing down around you. You actually think you are wanted or important to us at Quest?

 

Get a life already.

 

Which points do you specifically disagree with?

Should we just stick our heads in the sand and pretend we're not merely days away from this reality?

 

Cambridge, too, is MOVING not CLOSING. To a state of the art facility in Marlboro. Surely you've read my recent posts concerning Marlboro and all the winning that is about to happen there. Tens of thousands of views I might add!!!! You were probably one of them. Go back and correct your post. Delete the labs that are MOVING. Then you will be accurate.

 

"CLOSED" means closed. When you "move" 20+ miles away, it is a different business; you will retain only a fraction of the original business. CLOSED Means "GONE"-sayonara, bye-bye.
"Dismantling Quest one lab at a time" = Steve Ruskowski

 

It is not "state of the art" project management or construction
at the Marlboro site . . . it is a floundering mess of mistakes
and change orders. Cambridge BU will not be totally integrated
by the end of this year. That's a fact.