Month: June 2007

Dark Daily

June 25, 2007 “Intelligence: Late Breaking Lab News”

It should be boom time for companies selling Clinical Information Systems (CIS). A research report from Millennium Research Group (MRG) of Waltham, Massachusetts, predicts that patient safety programs will fuel a demand by health systems for CIS products. The report, “U.S. Markets for Acute Care Clinical Information Systems,” says hospitals are adopting CIS to help …

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LabCorp Buys Hospital Outreach Lab in Florida

CEO SUMMARY: Once again, a national laboratory has seized the opportunity to acquire a strong regional laboratory. This time it’s the sale of DSI Laboratories, Inc., of Naples, Florida, to Laboratory Corporation of America. DSI’s owner is NCH Healthcare System, which owns two hospitals in Naples. Terms of the deal were not revealed. LabCorp will …

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DSI Sale Shows Value of Lab Outreach Program

CEO SUMMARY: For other hospital laboratory outreach programs, the pending sale of DSI Laboratories, Inc., of Fort Meyers, Florida, to Laboratory Corporation of America provides useful insights about the market value of these programs. Applying general formulas for determining a sales price, DSI Labs’ $40 million in yearly revenue may have fetched between $40 and …

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$18 Million Judgment for Errors by Laboratory

CEO SUMMARY: In a wrongful birth lawsuit, a high-risk pregnancy physician in New Jersey requested a cytogenetics test on a pregnant mother, but LabCorp’s cytogenetics lab never did the test. After the baby was born with myotubular myopathy—the same deformity the mother had sought to prevent—she sued and won a jury verdict in her favor …

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Global Laboratory Trends Dominated by Rising Costs and Labor Shortage

“The Web has transformed many industries and it’s clearly affected our industry. This trend will help raise the bar in quality and overall performance among laboratories and manufacturers.” —Jim Reid-Anderson Chairman, President, and CEO of Dade Behring CEO Summary: Recently, THE DARK REPORT conducted a roundtable interview with executives of Dade Behring. Present were Jim …

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Procter & Gamble Moves into the Neighborhood

LAST MONTH, A NEW RESIDENT BOUGHT INTO THE LABORATORY TESTING NEIGHBORHOOD. Procter & Gamble Company spent a third of a billion dollars to enter a joint venture with Inverness Medical Products, Inc., with the specific goal of selling diagnostic test kits to consumers in pharmacies, grocery stores, and other retail outlets. As you will read …

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Quest Wants It Both Ways with Payer Contracts

CEO SUMMARY: Once again, public laboratory companies are pursuing short-term strategies that promise competitive advantage to themselves. But these strategies also carry long term risks that could burden the entire laboratory industry. Contradictions in the current cycle of competition for exclusive managed care contracts are already visible. Ongoing consolidation of payers is another wild card …

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Inverness Buys Biosite, Has New Venture with P&G

CEO SUMMARY: On the same day that Inverness Medical Innovations announced that it would acquire Biosite, thus beating out Beckman Coulter in the bidding war for Biosite, Inverness also announced that it had entered into a joint venture with Procter & Gamble. Together, the two companies will develop, make, and market consumer diagnostics products to …

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Community Hospital Builds Thriving Lab Outreach Program

CEO SUMMARY: When 330-bed Botsford Hospital of Farmington Hills, Michigan, got interested in laboratory outreach 10 years ago, it brought in a new laboratory leader, invested in new analyzers and informatics, and then let the quality of the operation attract new business from the community. Today, Botsford’s outreach program performs 2.4 million tests per year …

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