Lab/Path M&A Day Explores High Prices Paid to Lab Owners

May 15 program brings together lab buyers, lab sellers, and financial experts to discuss trends

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IF YOU HAVEN’T NOTICED, there’s a gold rush in diagnostics! Prices paid for clinical laboratories, anatomic pathology group practices, and in vitro diagnostic (IVD) companies have soared recently.

This is good news for pathologists and laboratory owners interested in putting their laboratory on the market. All the trends in laboratory testing point to a bright future and new investors are looking for ways to buy labs and participate in this market growth cycle.

To assess the current state of the merger & acquisition market for clinical laboratories and pathology group practices, THE DARK REPORT has organized a special, full-day program. It will bring together laboratory sellers with laboratory buyers.

“Mergers & Acquisitions in Pathology and Clinical Laboratories” will take place on Thursday, May 15, 2008 at the Intercontinental Hotel in Miami, Florida. It will follow the 13th annual Executive War College on Lab and Pathology Management, which will be conducted on May 13-14, 2008.

A Lab Industry First

“To our knowledge, this is a first in the laboratory industry. Never before has there been any attempt to invite both laboratory sellers and laboratory buyers to gather together to discuss market trends, and share the secrets of a successful acquisition,” stated Robert L. Michel, Editor of THE DARK REPORT and Founder of the Executive War College.

“There will be more than 30 sessions during the day with as many as 50 speakers and panelists,” he continued. “Lab owners who have sold their labs will share lessons learned and we’ve confirmed that Laboratory Corporation of America and Sonic Healthcare, Ltd. will conduct sessions on ‘What Clinical Lab Buyers Want in an Acquisition Candidate.’

Buyers & Sellers Roundtable

“This is a rare opportunity for owners of laboratories and pathology group practices to network with many of the lab buyers and investors who are active in today’s merger & acquisition marketplace,” noted Michel. “There will also be experts in law and finance discussing how to prepare your lab for market so that it can come to market properly valued and attractive to buyers.”

Another innovation will be five learning tracks tailored to the specific needs of: clinical laboratories, anatomic pathology group practices, hospital/health system lab outreach programs, specialty/niche labs, and a track for all lab owners on contract, valuation, and personnel issues. (See full session listings on next page.)

“Even lab owners and pathology group partners who are not ready to sell their laboratory are encouraged to attend,” stated Michel. “This is the time and place to come, listen, learn, and meet the experts you will need down the line when retirement looms and you are ready to bring your laboratory to market.”

Bringing Together Lab Buyers and Lab Sellers

Mergers & Acquisitions in Pathology & Clinical Laboratories

Thursday, May 15, 2008 • Intercontinental Hotel • Miami, FL

Designed specifically to bring laboratory sellers face-to-face with laboratory buyers, it is a lab industry first. Hear from owners who successfully sold their lab or pathology group practice. Meet buyers and investors. Network with the experts in law, financial, and valuation who package laboratories and help owners come to market and negotiate a successful sale at a winning price. For details and to register, visit www.executivewarcollege.com.

Thursday, May 15, 2008, Miami

Following the opening session, these special breakout events:

Clinical Laboratory Learning Track

  • Capital and Financial Opportunities for Clinical Labs
  • What Clinical Lab Buyers Want in an Acquisition Candidate
  • Case Study by a Seller: PA Labs, Muncie, IN
  • Panel: Critical Issues in Selling a Laboratory

Anatomic Pathology Group Practice Learning Track

  • Key Considerations for Professional CP and AP Service Agreements Post-sale
  • What Anatomic Pathology Lab Buyers Want in an Acquisition Candidate
  • Case Study by a Seller: To Be Announced
  • Panel: Critical Issues in Selling an Anatomic Pathology Group

Hospital/Health System Laboratory Outreach Program Learning Track

  • How Hospital Administrators Are Using Laboratory Outreach to Build Cash Flow and Capital Value
  • Business Strategies for Developing Hospital Laboratory Outreach with an Eye to Eventual Sale
  • Case Study: PAML with Multiple Hospital Lab Outreach Joint Ventures
  • Panel: Selling, Joint Venturing, and Collaborating with Hospital Lab Outreach Programs

Specialty Testing Labs/Intellectual Property Learning Track

  • Legal & Business Issues for Intellectual Property Involved in Diagnostic Testing
  • Sources of Capital at Each Stage in Technology Development & Business Formation
  • How to Package the Technology and the Business Plan to Launch in the Market
  • Case Study of Specialized Lab Testing Firm that Has Come to Market: To Be Announced
  • Panel: Do’s & Don’ts for Building the Profitable Specialty Testing Laboratory

Sellers’ General Knowledge Learning Track

(Topics are universal and have application across all lab business models)

  • For Owners: Personal, Tax, & Estate Planning Prior to the Sale—Essentials for Shareholders before any Purchase Offer is Ever put on the Table
  • Legal Aspects of the M&A Transaction. Nuts and Bolts of the M&A deal. What is the Deal Flow? Who Contributes at Each Stage?
  • How to Keep Key Employees Pre-Acquisition and Post-Acquisition.
  • Basics of Valuation and Establishing a Reasonable Expectation of Sales Price for Laboratory Businesses

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