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Events Trigger Several Responses from Quest

CEO SUMMARY: Terrorist attacks on September 11 impacted Quest Diagnostics Incorporated in a number of unexpected ways. Security measures in New York City and Washington, DC impeded normal courier activities. The immediate shutdown of all air traffic nationwide meant that air-freighted spe…

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Analysis of Lab Testing Market Reveals Competitive Shifts

CEO SUMMARY: Even as public lab and anatomic pathology companies enjoy sustained growth in specimen volumes and revenues, fundamental shifts in the basic marketplace have changed the competitive environment. Surprisingly, the most open market segment is anatomic pathology specimens referr…

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Lab Owners Selling Stock To Harvest Big Profits

CEO SUMMARY: Three huge stock sales involving the nation’s largest laboratories have been announced in recent weeks. If these stock sales are enthusiastically received by Wall Street investors, independent regional lab owners may benefit because of higher valuations for clinical laborat…

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Unilab Files Registration For IPO of $115 Million

CEO SUMMARY: During the 1990s, Unilab used the twin strategies of lab acquisitions and aggressive sales and marketing to fuel rapid growth in specimen volumes and net revenues. However, California’s ultra-competitive managed care market and severe financial problems during the latter ha…

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Public Labs Enjoy Boom Times As Revenues & Profits Climb

TAKEN COLLECTIVELY, second quarter earnings reports by public lab and pathology companies send a strong message: the lab industry is in the midst of a revenue and profit boom. It’s been more than a decade since every public lab and pathology company reported strong growth in both revenues and oper…

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New England’s Path Lab Is Acquired by LabCorp

CEO SUMMARY: With growing regularity, owners of larger independent clinical laboratories are opting to sell to one of the public lab companies. This time it’s New Hampshire-based Path Lab, which agreed to be acquired by Laboratory Corporation of America. One intriguing aspect of…

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Identifying Future Lab Winners From Losers

TODAY I WOULD LIKE TO DO SOME CRYSTAL BALL-GAZING as a way to make a point about strategic business planning for laboratories. …

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THE DARK REPORT Honors Lab “Movers & Shakers”

CEO SUMMARY: It’s time again to recognize and honor the lab industry’s strong leaders in innovative management. These laboratory executives are implementing business strategies designed to position their lab organizations to serve the changing needs of the healthcare system. Their vis…

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Market Changes Lead LabCorp To Follow New Strategic Direction

CEO SUMMARY: When formed in 1995, Laboratory Corporation of America faced a financially-hostile marketplace for lab testing services. However, strategic planning retreats in 1997 and 1999 were pivotal in redirecting this billion-dollar lab behemoth toward financial stability. During 2000,…

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Medical Arts Lab Opts To File For Chapter 11 Bankruptcy

CEO SUMMARY: Dissident shareholders and a crushing debt burden are the reason Medical Arts Laboratory decided to file for reorganization under Chapter 11 bankruptcy laws. Both factors are the legacy of an ill-fated attempt to create a national laboratory organization between 1994 and 1997…

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