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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 July 2008 (full PDF issue) |
| TOP OF THE NEWS
Growth at outreach labs outpacing national labs
Lab valuations close to record levels
ACQUISITION FRONT
Manhattan lab acquires Genatom Inc.
Rosetta Genomics buys Parkway Clinical Labs
Sonic acquires two German labs
REGULATORY/LEGISLATIVE UPDATE
House passes Medicare bill
New CDC report assesses lab market
PAYMENT APPROACHES
Spectrum starts payments collection at PSCs
INSIDE THE LAB INDUSTRY
Solid infrastructure key to growing pathology business
LAB PROFILE
Genoptix focuses on increasing volume and expanding sales
FINANCIAL
Lab index down 4% in 2008
Full Article |
| Valuations Close to All-Time High; Labs Continue to Attract Private Equity Interest |
| Valuations of labs—especially specialty labs—are currently at a record high, with the scarcity driving up value and continuing to fuel interest from private equity investors, observed Wachovia Securities’ Doug Brown at May’s Executive War College in Miami, Florida.
Full Article |
| Survey Finds Outreach Labs Growing at 4 Times the Rate of National Labs |
| With revenue growth at 19 percent and volume growth at 13 percent in 2007, hospital outreach labs are currently growing at four times the rate of the national labs, according to a recent survey conducted by Chi Solutions and presented by company president Kathleen Murphy, Ph.D., at Washington G-2 Reports’ 7th Annual Lab Outreach Conference. The revenue growth rate is particularly significant, given that the annual organic growth rate of Quest Diagnostics (Madison, N.J.) and LabCorp (Burlington, N.C.), is currently ranges from 3 percent to 5 percent.
Full Article |
| Breaking Legislative Update: House Passes Medicare Bill Repeal Competitive Bidding, Physician Fee Fix |
| On June 24, the House passed its version of the Medicare bill (H.R.) 6331, which repeals the competitive bidding project, extends the "technical component" grandfather clause for 18 months, as well as averts a 10.1 percent cut in the Medicare physician fee schedule that begins July 1.
Full Article |
| Former Quest Execs Acquire New Jersey-Based Genatom and Launch Manhattan Lab |
| Two former Quest Diagnostics executives have signaled a launch of their new venture, Manhattan Physicians Laboratories (MPL), by acquiring the routine testing lab Genatom Inc. (Roseland, N.J.). They plan on opening a new 5,000 square foot laboratory on the east side of Manhattan this fall.
Full Article |
| Spectrum Labs Implements Phlebotomist Payment Collection Program |
| In anticipation of a potential increase in bad debt associated with nonpayment during the current economic slump, Spectrum Laboratory Network’s (Greensboro, N.C.) 430 phlebotomists have started taking payment for uninsured patients, a move that could result in a $1 million positive impact for the testing provider in 2008.
Full Article |
| Have Rock Solid Business Infrastructure, Will Grow Pathology Business |
| In recent years, Professional Pathology Services (PPS, Columbia, S.C.) lost a key dermatopathology client that meant a 40,000 annual accession loss and a $2 million hit to the bottom line. The client loss had nothing to do with practice’s quality of service, said PPS pathologist Edward Catalano, M.D., but rather the dermatologist practice decided to capture the testing revenue by taking the work in-house.
Full Article |
| Rosetta Genomics Buys Parkway Clinical Labs for $3 Million+ |
| To amplify the marketing and development of its micro-RNA-based tests, Rosetta Genomics (Jersey City, N.J.) has acquired Parkway Clinical Laboratories (PCL, Bensalem, Pa.) in a deal potentially worth $3.1 million. PCL’s revenues in 2008 are expected to be close to $3 million, putting the acquisition price at a 1.1x revenue multiple.
Full Article |
| CDC Report Assesses Lab Market, Calls for Medicare Changes |
| A new report commissioned by the Centers for Disease Control and Prevention (CDC) profiles the U.S. lab market, as well as calls for changes to the Medicare payment system, concluding that the system needs to be redesigned in line with growing scientific, economic, and business challenges. The report, Laboratory Medicine: A National Status Report, also calls the current fee schedule method out-of-date, bearing no relationship to current production costs, particularly relating to molecular diagnostics and other genetic-testing methodologies.
Full Article |
| Post IPO, Genoptix’s Focus Is on Growing Volume and Expanding Sales Operations |
| Genoptix’s growth has not stopped since the testing provider announced its initial public offering (IPO) in October 2007 at a price of $17 a share, and saw that price jump to $25.35 per share on October 30, its first day of trading on the Nasdaq. The growth has continued in both revenue and volume—recently released Q108 results showed a 78 percent growth in volume and 109 percent growth in revenue compared to Q107.
Full Article |
| Lab Stocks Inch Upward in June, but Down 4% So Far in 2008 |
| The 14 publicly traded stocks tracked by the G-2 Laboratory Index are down 4 percent for the first six months in 2008, but are up 2 percent over the past five weeks for the week ended June 20, 2008. And these lab stocks are showing better strength than the Nasdaq and S&P 500, which continue to reflect the downturned economy. The Nasdaq is down 10.03 percent and the S&P 500 is down 10.86 percent so far in 2008.
Full Article |
| Sonic Healthcare to Acquire Two German Labs for Over $130 Million |
| Sydney, Australia-based Sonic Healthcare is expanding its German footprint with the recently announced acquisition of the Labor 28 Group, a laboratory serving the metropolitan population in Berlin for over $100 million and the GLP Medical Group in Hamburg for $30 million. Last year, Sonic acquired Bioscientia Healthcare and the Schottdorf Group, both located in Germany.
Full Article |
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