Month: March 2004

Oncology Diagnostics Attracts Big Money

MORE SURPRISING DEVELOPMENTS for the anatomic pathology profession during the past three weeks! The impending $215 million acquisition of IMPATH, Inc. by Genzyme Corporation, announced on March 1, has the potential to send new ripples across the national market for oncology testing. What makes the Genzyme–IMPATH combination particularly fascinating was the $1 billion Genzyme paid, just …

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IMPATH Has a Buyer: Genzyme Pays $215 Mil

CEO SUMMARY: Two unexpected things happened in IMPATH’s Chapter 11 bankruptcy action. First, it attracted a buyer willing to pay the premium price of $215 million for its assets. Second, the buyer was not another laboratory company. Rather, it is a new entrant into the oncology diagnostics marketplace. This raises interesting questions as to Genzyme’s …

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New Competitors Line Up In Oncology Marketplace

CEO SUMMARY: Local pathology groups are advised to more closely track developments in the national market for oncology testing. Not only is big money targeting cancer testing, but a number of nimble, entrepreneurial start-up companies have begun to compete for specimens. Genzyme’s acquisition of IMPATH validates this trend and promises to bring more change to …

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HCA, Tenet Healthcare, CMS, Abbott Labs, I-Stat, TheraSense

UNINSURED PATIENT HOSPITAL CHARGES REDUCED AT HCA & TENET For-profit hospital ompanies moved swiftly to announce and publicize new policies for billing uninsured patients. These patients will see charges reduced to levels that are closer to what hospitals accept from HMOs and Medicare/Medicaid. HCA, which operates 166 acute care hospitals, disclosed in its 2003 year-end …

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Side-by-Side Comparison: U.S. Lab Versus British Lab

CEO SUMMARY: Do clinical laboratories in any of the world’s most developed countries have a performance advantage that makes them “best of breed?” Recently, a laboratory in the United States and a laboratory in the United Kingdom had the opportunity to evaluate their financial, productivity, and quality performance against each other. The results were unexpected—and …

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Public Labs’ Year-End Earnings Demonstrate Continued Growth

BECAUSE OF ACQUISITIONS, there remain only four public laboratory companies which do substantial business in testing referred by physicians’ offices. As public companies, their quarterly financial reports provide useful insights into the competitive marketplace for lab testing services. That is true of the year-end financial reports for both Quest Diagnostics Incorporated and Laboratory Corporation of America. …

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Useful Info at War College On Molecular, Lean, et al

CEO SUMMARY: When the nation’s leading laboratory administrators and pathologists gather in New Orleans on April 27- 28, they will get the best and latest developments in laboratory management. From Aetna’s National Medical Director to the former Chief of the Industry Guidance Branch of the OIG, the Ninth Annual Executive War College offers powerful information …

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“March 15, 2004 Intelligence: Late Breaking Lab News”

Bar codes will soon be an essential element in most laboratories. Final regulations published on February 26 by the Food and Drug Administration (FDA) will take effect during the next two years. The FDA is requiring that prescription and over-the-counter drugs given to hospital patients have bar codes. Vaccines and certain blood and blood products …

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