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
Tag: specialty laboratories
IN AN ANNOUNCEMENT MADE LAST MONTH, Mayo Medical Laboratories said that it would close the lab facility it operates in Andover, Massachusetts, by the end of the year.
As a result of this move, Mayo will eliminate 105 jobs in this leafy suburb north of Boston. For 20 years, MML has operated the lab in Andover, its only facility in New England.
News outlets reported
RECENTLY TWO WHISTLEBLOWER LAWSUITS, each alleging Medicaid fraud by Quest Diagnostics Incorporated and Laboratory Corporation of America, have become public knowledge. One case is in Virginia and the other case is in Georgia.
Both lawsuits were filed by Hunter Laboratories, LLC, of Campbell, California, and its CEO Chris Riedel. Both lawsuits involve charges of alleged fraud
Geisinger Health System broke ground last month on construction of a new $52 million medical laboratory facility. It will be 115,000 square feet and will be located at the site of the Geisinger Medical Center in Danville, Pennsylvania.
LAB COMPANY COMPLETES IPO
Cancer Genetics, Inc., of Rutherford, New Jersey, completed an initial public offering (IPO) and
THIS WEEK, Quest Diagnostics Incorporated will issue its fourth quarter and full year 2012 financial report. In anticipation of this, the nation’s largest lab company has been cleaning out its closets, so to speak.
With its new CEO finishing out his first eight months of service, Quest Diagnostics is taking the opportunity to dispose of some
OURLab and its parent company, Prost Data, Inc., of Nashville, Tennessee, entered into an agreement to be sold to Opko Health Inc., of Miami, Florida. The purchase price of $40 million will be paid as $9.4 million in cash and $30.6 million in stock. Publicly-traded Opko has both pharmaceutical and diagnostic product lines. Jonathan Oppenheimer,
THIS TIME, THE PROVERBIAL CAT MAY BE OUT OF THE BAG when it comes to long-standing dissatisfaction with how federal regulators interpret and enforce CLIA (Clinical Laboratory Improvement Amendments) regulations as they relate to inadvertent errors in the referral of proficiency tests (PT).
For many in the clinical laboratory profession, this issue of THE DARK REPORT
CEO SUMMARY: In looking how to propel its business to the next level, the partners at Pathology, Inc., opted not to sell their pathology group practice. Instead, they chose to raise capital by selling equity in their company to a group of investors. In this exclusive interview, executives from Pathology, Inc., share their business strategy.
CEO SUMMARY: California Attorney General Jerry Brown made a big splash last month by accusing seven lab firms of committing “massive fraud and kickbacks” under state Medicaid laws. However, he is relying on a legal theory that has not prevailed in some prior court cases involving discounted billing for laboratory testing. Nonetheless, it appears that
GI Pathology, PLLC, of Memphis, Tennessee, announced that it has contracted to be a national gastrointestinal (GI) pathology laboratory provider with CIGNA HealthCare of Hartford, Connecticut. It also has a five year, national provider contract with UnitedHeathCare.
SPENDING CUTS ADVERSELY AFFECT CANADIAN LABS
Widely-publicized errors in pathology services have caught the attention of the Canadian public. Pathologist