Laboratory testing in India continues to attract the attention and investment dollars of western companies. News reports indicate that Apax Partners is negotiating to buy a stake in Metropolis Healthcare of Mumbai, India. Metropolis Healthcare has business activities ranging from clinical laboratory testing to home health services. Metropolis operates 55 testing laboratories in India, Sri Lanka, United Arab Emirates, South Africa, Bangladesh, and Seychelle and is said to process more than 10 million tests annually. Metropolis has been an aggressive acquirer of clinical laboratories in recent years.
MORE ON: India, Apax
Apax Partners has a track record of investments in clinical laboratories in several different countries. Alert readers may recall that Apax Partners recently sold its interest in Spectrum Laboratory Network (Greensboro, North Carolina) in December 2009.
Apax had also been an investor in Unilabs of Switzerland. It sold that interest in 2007. These transactions indicate that Apax is bullish on the future of clinical laboratory testing and sees opportunities in other countries besides the United States.
FIRE DESTROYS TACOMA FACILITY OF STERLING LABS
Last month, a specimen collection site owned by Sterling Laboratories, Inc., of Tacoma, Washington, was heavily damage d by fire. Arson investigators stated that the blaze was deliberately set. Firefighters were called to the scene at 2:45 a.m. on Friday, March 27. Sterling Laboratory officials said laboratory testing services, located at another site, would continue without disruption. This incident is a reminder that clinical laboratories and pathology groups should review current fire insurance coverage and take steps to secure and protect important documents and equipment from these types of unexpected events.
HBO BIOPIC ABOUT JACK KEVORKIAN TO AIR ON APRIL 24
Actor Al Pacino will play the role of pathologist Jack Kevorkian in a movie to be aired by HBO on April 24. The film is called “You Don’t Know Jack.” Kevorkian, now 82, was released from prison on parole in 2007. He had been convicted of second degree murder for assisting in the suicide of Thomas Youk in 1998.
Dark Daily Update
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