Laboratory Industry Report
Get an insider's view of the lab industry's most important business and financial trends, plus predictions for 2008 and beyond. In each issue, you find: Comparative data on lab pricing How to deal with healthcare integration, capitation, technology advances, etc. Clear perspectives of how your firm is performing vs. the market at large How publicly-traded lab companies are performing and what their top executives earn Updates on late-breaking mergers & acquisitions.
February 2010 - Table of Contents
For the fourth quarter of 2009, the nation’s lab leader Quest Diagnostics (Madison, N.J.) reported revenues totaling $1.8 billion, an increase of 2.7 percent over the same quarter in 2008.
Eight acquisitions in late 2009 and two recent acquisitions early in 2010 are leading many financial insiders involved in the lab industry to have a positive outlook on the mergers and acquisitions (M&A) landscape this year following last year’s slump.
Surgical pathology (Level IV, code 88305) continues to rank as the highest-volume pathology procedure paid under Medicare Part B.
In late 2008, Los Angeles-based molecular diagnostic testing provider Response Genetics entered into a partnership with NeoGenomics Laboratories (Fort Myers, Fla.) to develop a national sales strategy for its PCR-based testing services, but whether the venture will continue into 2010 is unclear.
Under a recently announced agreement with Mammography Reporting System (MRS), Myriad Genetics (Salt Lake City) will be able to identify more high-risk breast cancer patients—and therefore potential candidates for its BRACAnalysis test—through risk flags incorporated into cancer tracking software that service 2,400 mammography centers in the United States.
Following a slow 2009, the lab industry’s mergers and acquisition (M&A) landscape has been the focus of increased activity in recent months.
In order to save an estimated $1.4 million in annual cost savings, Princeton, N.J.-based DNA testing provider Orchid Cellmark will fold its Nashville, Tenn., operations into its Texas facility in Dallas.
Now that Brentwood, Tenn.-based PathGroup has raised $100 million through recapitalization, the clinical laboratory and anatomic pathology testing provider is set to embark on an ambitious growth strategy, which includes expanding sales and marketing efforts as well as managed care relationships.
Since its launch in October 2009, the Digital Pathology Association (DPA) has been focused on achieving market acceptance, as well as information technology (IT) challenges, including the role of this technology in health IT, according to the organization’s president, Dirk Soenksen, founder and CEO of Aperio Technologies (Vista, Calif.).
After engineering the sale of his company, Sunrise Medical Laboratories (Happauge, N.Y.), to Australia-based Sonic Healthcare in 2007 for $168 million, CEO Larry Siedlick began to plot his next move in the lab industry.
Preliminary estimates from a mail survey conducted by the Centers for Disease Control and Prevention (CDC) indicate that 43.9 percent of physicians reported using all or partial electronic health record (EHR) or electronic medical record (EMR) systems in their office-based practices.
After a strong finish at the end of 2009, the 13 publicly traded labs tracked by G-2 Reports’ Laboratory Stock Index have had a bit of a slow start in 2010.
The American Hospital Association has called for reviving the $750 million lab tax or annual tax to replace the 1.75 percent reductions in the Medicare lab fee schedule contained in the Senate health care reform bill.
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