July 2008
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.
MPL’s President Thomas Golubic told LIR that buying Genatom gave his company "the critical mass desired and a foot in the door" to the lucrative New York metro lab market. Genatom has 70 full-time employees and is expected to bring in $10 million in revenue this year, he added. MPL is backed by at least $20 million in financing from the New York-based venture capital firm Trevi Health Ventures. William Nouri is MPL’s vice president and lab operations director. Both Nouri and Golubic worked at Quest together for almost 20 years beginning in 1988.
The current plan is to launch MPL using this New Jersey facility, which processes approximately 600 specimens at night while the Manhattan lab is being built. MPL’s new facility will initially offer routine and anatomic pathology testing and has plans to bring esoteric testing in-house. "We plan on keeping the New Jersey facility open, with our ultimate goal to bring same-day testing to Manhattan physicians," said Golubic, adding that service is their primary focus. "We think the big labs have really taken their eyes off the ball in terms of providing good service to the physicians in Manhattan."
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