Quest Diagnostics (DGX),a leading player in the diagnostic testing market, recently launched a new version of its mobile health platform, Gazelle. The company claims that this latest version will work in sync with Google’s (GOOG) fast-growing Android smartphone operating system. Currently, Gazelle is available for free at Gazelleapp.com as well as in the Android Market at market.android.com.
Earlier, in October 2010, Gazelle was first introduced to operate under Apple’s (AAPL) iPhone and Research In Motion’s (RIMM) BlackBerry platforms. This application enables the patients to see, store and share their vital health information including Quest Diagnostics laboratory test results with the healthcare providers via mail or fax.
With the latest version of Gazelle, which is compatible with Google Android, users in 33 states including the District of Columbia will be able to access their Quest Diagnostics laboratory test results directly on their phone.
Currently, Quest Diagnosticsprovides diagnostic laboratory services through its nationwide network of laboratories and patient service centers. The company provides lab testing services primarily to physicians, hospitals, managed care organizations, employers, government institutions and other independent clinical laboratories.
The year 2010 has been quite difficult for Quest Diagnostics due to a general slowdown in physician office visits. However, the company undertook several initiatives to stabilize its business; including controlling its cost structure, which in turn, would improve margins over the long term and upgrading the sales force. The company has also organized specialty sales force that would cater to physicians, hospitals and cancer patients.
Moreover, with improved information sharing capabilities and ability to add contact information for multiple pharmacies and insurance companies in a single account, Gazelle will allow the patients to enter their zip code or to use the GPS capability of the smartphone to find a local Quest Diagnostics location. The company believes that these steps will drive growth going forward and gradually enhance the company’s top line and margins.
Based on favorable demographic trends and strong focus, Quest Diagnostics will continue to remain one of the leading players in the industry. However, the macro environment continues to be a major concern and is negatively impacting testing volume. The company faces stiff competition from Laboratory Corporation of America Holdings (LH). We currently have a Neutral recommendation on Quest Diagnostics, which is supported by the Zacks #3 Rank (“Hold”).
APPLE INC (AAPL): Free Stock Analysis Report
QUEST DIAGNOSTC (DGX): Free Stock Analysis Report
GOOGLE INC-CL A (GOOG): Free Stock Analysis Report
LABORATORY CP (LH): Free Stock Analysis Report
Be the first to comment