Issue: Volume XIV No. 10 - July 16, 2007

Intense Competition for Market Share in New York

ONE OF THE MOST TURBULENT MARKETS FOR LAB SERVICES TODAY is New York City and the Tri-State area of New York, New Jersey, and Connecticut. This is ground zero in the fight for market share between Quest Diagnostics Incorporated and Laboratory Corporation of America and competition is intense. The stakes are highest for Quest Diagnostics. …

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Sonic Lands in New York with Sunrise Purchase

CEO SUMMARY: Sonic Healthcare Limited of Sydney, Australia, continues to open its checkbook and purchase independent laboratory companies here in the United States. The latest deal is its agreement to purchase Sunrise Medical Laboratories of Hauppauge, New York, for as much as $168 million. This gives Sonic Healthcare a solid foothold in the Tri-State market …

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GE’s Deal for Abbott IVD Collapses Last Week

CEO SUMMARY: Both companies have said little about their mutual decision, announced last week, to kill the pending sale of Abbott Diagnostics and Point-of-Care businesses to General Electric. One probability is that GE decided, during due diligence, that its willingness to pay a premium price—15 times EBIDTA—was unjustified by the quality of the assets and …

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BRLI Seizes NYC Share In Two-Stage Effort

CEO SUMMARY: Bio-Reference Laboratories, Inc., (BRLI) reported record financial results for its most recent fiscal quarter last month. Much of this success is rooted in BRLI’s discipline in defining itself as a local laboratory and using enhanced lab testing services to align itself as a clinical and operational partner with client physicians in the community. …

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Exclusive Lab Contracts Have Consequences

CEO SUMMARY: During the past seven months, competition in the Northeast has intensified. Decisions by UnitedHealth and Aetna to exclude a national laboratory from their respective provider panels has forced many physicians to reconsider their choice of laboratory provider—creating an opportunity for independent lab companies that are regional network providers. However, acceptance of contract prices …

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Lean/Six Sigma in Labs Becomes More Common

CEO SUMMARY: Across healthcare, laboratories, hospitals, and health systems are leading the drive to incorporate quality management methods into clinical services and daily operations. This fall, in Atlanta, the Lab Quality Confab will provide a detailed look at this trend, with 50 speakers, master classes, case studies, full-day workshops, an exhibit hall, and even Lean …

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Growing NeoGenomics Offers FISH Test TC/PC

CEO SUMMARY: This specialty lab testing company now has laboratories in Fort Meyers, Florida; Nashville, Tennessee; and Irvine, California. It recently beefed up its executive ranks and is adding to its menu of genetic and molecular assays. In December, 2006, NeoGenomics rolled out a nationwide TC/PC program in FISH testing that allows community hospital-based pathologists …

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Lakewood Pathology Changes Leadership

CEO SUMMARY: Following the arrival of a new majority owner and a capital commitment of $50 million last year, Lakewood Pathology Associates has taken additional steps to pursue growth. Lakewood plans to acquire small to mid-sized companies that are complementary to its position in the anatomic pathology markets, particularly in the subspecialties of hematology and …

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Dark Daily

July 16, 2007 “Intelligence: Late Breaking Lab News”

Another example of the globalization of laboratory testing services is the just-announced acquisition of laboratory middleware provider P.G.P, s.a., of Brussells, Belgium, by Data Innovations, Inc., of South Burlington, Vermont. Data Innovations states that the acquisition now gives it “unprecedented worldwide reach” in the laboratory middleware market. Combined, the two companies have 6,500 middleware systems …

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