The companies will jointly offer pathology and molecular testing services to PPD's pharmaceutical and biotechnology customers.
The company said it also saw record cash collections in the quarter despite challenges caused by regulatory change.
The GenomeWeb Index outperformed the Nasdaq Biotechnology Index, which lost 5 percent in February, but lost the same amount as the Dow.
The company said that an increase in clinical genetic testing volume contributed to overall revenue growth.
Quest will also have early access to Thermo Fisher's pipeline of novel platforms and assays to assist with development of Oncomine-branded solutions.
The index gained more than 3 percent, significantly outperforming the Nasdaq Biotechnology Index, but slightly underperforming the Dow and Nasdaq.
Clinical testing revenues inched up less than 1 percent, while pharma services revenues rose 38 percent, the company said.
US Attorney General Jeff Sessions is considering using DNA tests to determine relatedness between adult and child migrants, the Daily Caller reports.
Bloomberg reports that Brainstorm Cell Therapeutics plans to offer a treatment it is developing under the "right to try" law for hundreds of thousands of dollars.
In Nature this week: expansion of disease-resistance genes among long-lived oak trees, and more.
In a proof-of-concept study, researchers report being able to determine age from dried bloodstains, Discover's D-brief blog reports.