Quest Committed to City Despite Profit Drop
A cornerstone business is still committed to moving to Marlborough despite lower than expected fourth quarter earnings.
Quest Diagnostics is committed to moving to Marlborough despite lower than expected fourth quarter earnings.
“We are committed to developing the site in Marlborough. We have a long-standing presence in Massachusetts and all of New England," said Wendy Bost, the Director of Media Relations for Quest Diagnostics. "The Marlborough site will just allow us to enhance the relationship we have with people in the region."
The company is set to transition clinical lab testing operations now in Worcester and Cambridge to Marlborough. It will be the first tenant of the newly zoned Forest Park multi-use development. The city has put together an "aggressive" 15 year tax program with the company that encourages the company to invest in the location.
“We have services that are unique to the marketplace and are competitive. We also look forward to being able to provide high quality jobs to the region," said Bost as she referenced over 1,000 jobs that the move is set to bring to the area.
The earning report — which shows a 71 percent drop in profits in the fourth quarter of the year — does not fully reflect the state of the company, said Bost. If you remove operations that were classified as discontinued in the fourth quarter, you get a different perspective, she said.