By Joseph Burns, from the Volume XXV No. 9 – June 18, 2018 issue
LATE LAST MONTH, Myriad Genetics Inc. announced a definitive agreement to acquire Counsyl, Inc., an innovative genetic testing company in South San Francisco, Calif., for $375 million. In a deal that is expected to close by early next year, Myriad will use a combination of cash and common stock.
Founded in 2007, Counsyl offers carrier and
By Joseph Burns, from the Volume XXIV, No. 17 – December 11, 2017 issue
CEO SUMMARY: It’s almost a case of man bites dog. In malpractice cases involving genetic test results, labs are often assumed to be at fault. But in a lawsuit filed in Oregon, healthcare providers are alleged to have misinterpreted a genetic test. As a consequence, a patient underwent medically-unnecessary and life-changing surgery. This malpractice lawsuit
By Joseph Burns, from the Volume XXIV, No. 15 – October 30, 2017 issue
MIXED IN THE BAD NEWS concerning the proposed Clinical Laboratory Fee Schedule for 2018, there is some good news regarding what the federal Centers for Medicare and Medicaid Services proposes to pay for certain advanced diagnostic tests.
After analyzing the proposed fee schedule, Quorum Consulting of San Francisco, reported, as other analysts have concluded, that CMS
By Mary Van Doren, from the Volume XXIV, No. 10 – July 17, 2017 issue
This is an excerpt from a 2,026-word article in the July 17, 2017 issue of THE DARK REPORT. The complete article is available for a limited time to all readers, and available at all times to paid members of the Dark Intelligence Group.
CEO SUMMARY: It’s the second time in six years that a Japanese corporation
By Joseph Burns, from the Volume XXIV, No. 10 – July 17, 2017 issue
CEO SUMMARY: It’s the second time in six years that a Japanese corporation paid a high price for a genetic testing company in the United States. Konica Minolta will purchase Ambry Genetics for $800 million at closing and $200 million upon hitting certain financial metrics. In 2011, Miraca Holdings acquired Caris Life Sciences for $725
By Robert Michel, from the Volume XXIII, No. 16 - November 28, 2016 issue
In recent weeks, two different lab transactions were announced. One involved a hospital laboratory management contract and the other was a potential merger of two anatomic pathology lab companies. The first announcement came on October 31, when Lovelace Health System of Albuquerque, New Mexico, released news that it entered into an “inpatient and outpatient laboratory
By Robert Michel, from the Volume XXIII, No. 7 - May 23, 2016 issue
Patients of Health Diagnostic Laboratories who were tested between 2009 and 2014 are now being dunned by a collection agency! Creditors in the HDL bankruptcy case have engaged a Florida collection agency to go after 9,000 accounts. As reported by The Wall Street Journal, the amount of these bills totals $50 million, according to bankruptcy court documents.
MORE
By Robert Michel, from the Volume XXI NO. 10 - July 21, 2014 issue
Consolidation of private pathology group practices continues. On July 8, NeoGenomics of Fort Myers, Florida, announced that it had acquired Path Logic of Sacramento. Then, one day later, Incyte Diagnostics of Spokane, Washington, disclosed that it was buying Accupath Pathology Services, Inc., of Seattle, Washington. Path Logic was founded by Peter Kolbek, M.D., in 1999
By Robert Michel, from the Volume XXI NO. 1 - January 13, 2014 issue
IN THE FINAL WEEKS OF 2013, the federal Centers for Medicare & Medicaid Services (CMS) announced that it would reduce the price it pays for the BRCA genetic test by 49%, to $1,438, effective on January 1, 2014.
For Myriad Genetics, Inc., this was not welcome news. Its share price fell by as much as 20%
By Robert Michel, from the Volume XX No. 15 - November 11, 2013 issue
Who would have guessed that Angelina Jolie would do a multi-million-dollar favor to Myriad Genetics, Inc.? Jolie caused quite a stir earlier this year when she went public with the news that she had done a prophylactic double mastectomy after she had learned the results of her BRCA test for breast cancer risk. That news
