Summary
Quest Diagnostics Incorporated announced on June 3, 2005, that it has received a subpoena from the U.S. Attorney's office for the District of New Jersey. The subpoena requests business and financial records related to capitation and risk-sharing agreements with both government and private payers. The period under review spans from 1993 through 1999. Quest Diagnostics has stated that it is cooperating fully with the government's investigation. While the nature of the investigation is not explicitly detailed beyond the scope of the records sought, this development introduces a level of uncertainty for investors. The company's cooperation suggests a willingness to resolve the matter, but the potential financial and legal implications, if any, are currently unknown.
Key Highlights
- 1Quest Diagnostics received a subpoena from the U.S. Attorney's office for the District of New Jersey.
- 2The subpoena requests records pertaining to capitation and risk-sharing arrangements.
- 3The requested records cover the period from 1993 through 1999.
- 4Both government and private payers are included in the scope of the subpoena.
- 5Quest Diagnostics is cooperating with the government's investigation.