The firm's CEO told investors at the JP Morgan Healthcare Conference that in addition to driving growth of its sepsis test in the US, Accelerate is eyeing expansion into China.
The firm also posted full-year revenue growth of approximately 3 percent to $315 million, near the top end of its guidance of $310 million to $316 million and above analysts' consensus estimate.
The company also reaffirmed fiscal fourth quarter growth expectations including double-digit growth in the US for its TB testing products.
The company also reaffirmed its guidance for the fourth quarter, and continues to expect revenues of $46.5 million to $48.0 million and EPS of $.09 to $.11.
The company expects EPS to be between $4.02 and $4.12. On a non-GAAP basis, EPS is expected to be in the range of $4.75 and $4.85.
The company attributed the lower revenue growth to lower volume growth in diagnostics, which is expected to continue for the rest of the year.
For 2018, Quest lowered its revenues expectation to $7.57 billion, its EPS to greater than $5.34, and its adjusted EPS to greater than $6.30.
The company said testing services revenues more than doubled during the quarter as its AlloSure kidney transplant diagnostic continued to penetrate the market.
MDx revenues increased 3 percent to $158.0 million, but excluding non-recurring royalty revenue in the prior-year period, MDx revenues increased 10 percent.
The company said its molecular collection systems products saw the highest revenue growth during the quarter as product revenues rose 6 percent overall.