Month: October 2015

NeoGenomics to Acquire Clarient for $275 Million

CEO SUMMARY: In a surprise move that further consolidates national anatomic pathology services, NeoGenomics will acquire Clarient Inc., from General Electric Healthcare. General Electric is getting cash, and preferred and common stock. The two companies announced plans to pursue integrated diagnostic services that would combine lab testing and diagnostic imaging data. The deal is subject …

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October 26, 2015 Intelligence: Late Breaking Lab News

Describing “nutritional chemistry and food safety as an exciting growth opportunity,” CEO David King of Laboratory Corporation of America announced his company’s recent acquisition of International Food Network and The National Food Laboratory. Terms of the deal were not announced. Some analysts considered this to be a small diversification play by LabCorp as a response to …

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New DAT Law, Competition Heat Up Phoenix Market

CEO SUMMARY: In Arizona, Theranos supported a new state law this year that allows patients to order lab tests without a doctor’s order. Since the law took effect, that law and the ultra-low prices offered by Theranos are drawing away some cash-paying customers from one lab company that has operated in Phoenix for 26 years. …

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Will 2016 Bring Opportunity or Tribulations for Labs?

WE ARE JUST ABOUT EIGHT WEEKS FROM THE ADVENT OF 2016. Given the rapid transformation of healthcare that continues to unfold, it is timely to assess how clinical labs and pathology groups are likely to fare during the coming year. On the plus side, the ongoing evolution toward integration of clinical care will benefit hospital-based …

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WSJ ‘Sticks’ Theranos, Raises Serious Questions

CEO SUMMARY: Following months of investigation, reporter John Carreyrou of The Wall Street Journal published back-to-back reports about aspects of Theranos that the secretive company has kept from public view. Based on interviews with several employees and others with knowledge of events at Theranos, the WSJ disclosed that Theranos runs only a handful of tests …

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Lab Professionals Knew of Challenges at Theranos

CEO SUMMARY: For most of the past year, pathologists and medical laboratory professionals in the San Francisco and Phoenix markets were aware that Theranos was not delivering to patients and consumers the specific lab testing services it regularly touted in news stories and at conferences. Another sign was that, as of July 2014, it was …

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RFID Lab Inventory System Saves $465K in First Year – June 1, 2015

CEO SUMMARY: Seeking ways to automate every aspect of work flow, the clinical laboratory at St. Francis Health System in Tulsa, Oklahoma, implemented a unique automated laboratory inventory management system that utilizes RFID. In the first four months, the system helped the hospital cut the value of inventory on hand by $296,000. Another direct cost savings was a 75% reduction in …

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Protecting Access to Medicare Act of 2014: Will price reporting rule drive small labs out of business?

This first assessment of the PAMA (Protecting Access to Medicare Act of 2014) proposed rule on market reporting of lab prices gives pathologists and lab executives insights about the good, the bad, and the ugly in the language of the proposed rule. One lab group representing independent and community lab companies says that the proposed …

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