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By subscribing to Laboratory Industry Report, each month you'll get an insider's view of the lab industry's most important business and financial trends, plus predictions for the coming year.
In each issue, you find:
- Comparative data on lab pricing
- Information and explanations describing 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.
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 | LIR January 2008 (full PDF issue) |
| TOP OF THE NEWS
Competitive demo bids due in February
Humana awards contract extensions
LEGAL PERSPECTIVE
Patent reform and labs
FROM THE ANALYSTS
Goldman Sachs points out challenges for Quest, LabCorp
INSIDE THE LAB INDUSTRY
Lab execs see strong 2008 for industry
TESTING HERE AND ABROAD
India’s Lal PathLabs looks to outsource U.S. testing
FINANCIAL
Lab stocks up 17% in ‘07
INDUSTRY BUZZ
Caris Diagnostics to acquire MPI
Full Article |
| Quest, LabCorp, Sonic Land Humana Contract Extensions |
| The nation’s fourth largest managed care company—Humana Inc. (Louisville, KY)—has signed multiyear contracts with both Quest Diagnostics (Madison, NJ) and LabCorp (Burlington, NC), as well as Sonic Healthcare USA (Austin, TX). These contracts, which are effective as of Jan. 1, 2008, extend current agreements to provide laboratory and testing services for the approximately 11.3 million Humana members.
Full Article |
| Competitive Demo Bids Due Feb. 15: CMS Confirms List of Excluded Cities |
| San Diego-area laboratorians are beginning the New Year with a looming deadline—those required to submit bids for CMS’s three-year competitive bidding demonstration project for lab testing services must have their proposals in by Feb. 15, 2008. Meanwhile, many laboratorians elsewhere in the country have reason to exhale. CMS has confirmed a list of metropolitan statistical areas (MSAs) where the second demonstration site is not likely to be located because these are the current sites of ongoing durable medical equipment demonstration projects (see box).
Full Article |
| ‘First to File’ Patent Reform Efforts Underscore Labs’ Need to Protect IP |
| Most labs with R&D interests are just on the cusp of exploring how to leverage their intellectual property (IP) assets for financial gain. But as both House and Senate versions of the Patent Reform Act continue to be debated in Congress, it’s important that labs understand the evolving legal complexities of IP protection, including avoiding costly patent infringement litigation, warned legal experts at Washington G-2 Reports’ Lab Law, Compliance & Liability Summit, held December 5-7 in Ft. Lauderdale, Florida.
Full Article |
| Goldman Sachs Identifies Current Challenges, Future Growth for Quest and LabCorp |
| Both Quest Diagnostics (Madison, NJ) and LabCorp (Burlington, NC) are facing strong financial headwinds, such as aggressive cost-cutting moves necessary to offset the threat of further downward pricing of managed care contracts, according to a recent report by Goldman Sachs (New York). The report, which initiated coverage of both companies, gave LabCorp a neutral rating and Quest a sell rating. However, the report cited positive longer-term growth, due to demand-driven volume growth and overseas expansion, particularly for Quest, which is currently building a laboratory in New Delhi, India, to be opened in 2008.
Full Article |
| Outlook for the Lab Industry: Five Execs’ Predictions for 2008 |
| This year is expected to continue the growth seen in recent years, with a 6% to 7% increase in total lab industry revenues that will push the lab market to $55 billion overall. This growth is largely attributed to aging demographics, continued growth from high quality pathology and lab medicine hospital outreach labs, regional labs, and the large commercial labs. But this year, labs will also face many of the same issues they have grappled with in recent years, including downward pricing pressure from managed care organizations and the CMS competitive bidding demonstration project. To get a sense of where the industry is and where it’s heading, Laboratory Industry Report talked to laboratory executives, industry leaders, and analysts for their thoughts and predictions for 2008 and beyond. LIR found that while they have significant concerns, they are also optimistic about future growth possibilities.
Full Article |
| India’s Lal PathLabs Intent on Outsourcing United States Testing |
| Since it was infused with over $7 million in venture capital funding in 2005, the New Delhi-based Lal PathLabs has been pushing an ambitious growth plan, a primary component of which is to acquire a United States lab to begin outsourcing diagnostic testing services for uninsured Americans to India.
Full Article |
| Lab Stocks up 17% in ’07, Two New Companies Added for 2008 |
| Reflecting the overall health of the sector, the G-2 Laboratory Stock Index is ending 2007 up 17% from where it was approximately one year ago. The Nasdaq and S&P 500 are also up at the end of 2007, compared to the end of 2006. The Nasdaq is up 9.13%, while the S&P is up almost 3.5% for the year for the week ended Dec. 14, 2007.
Full Article |
| Caris Diagnostics to Acquire Molecular Profiling Institute |
| In pursuit of its rapid growth and expansion plans, Caris Diagnostics (Irving, TX) has announced plans to acquire Molecular Profiling Institute Inc. (MPI; Phoenix), a CLIA-certified molecular diagnostics company and reference laboratory focused on developing and commercializing novel molecular diagnostic tests based on genomic and proteomic profiling. Financial terms of the acquisition agreement were not disclosed.
Full Article |
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