“August 17, 1998 Intelligence:  Late Breaking Lab News”

THE DARK REPORT wants to thank those companies at the American Association of Clinical Chemistry convention in Chicago who invited us to special business briefings and other functions. It was an opportunity to meet both executives and the innovative customers of these companies who are advancing the art (and science) of laboratory management. Such meetings provide us with invaluable background knowledge to develop the useful business intelligence we provide our clients.

MORE ON…INVITATIONS:
Probably the most spectacular affair attended by THE DARK REPORT was the Beckman-Coulter Corp. dinner in Chicago. Imagine an intimate dinner for 1,200 of your best customers, entertained by a 40-piece orchestra and three vocalists! It was the first time since the two companies merged that they have had their common customers in one place at one time.

LAST ADD TO…AACC:
Clients and readers of THE DARK REPORT should also know that entire staff of the AACC, including current president Michael Parker, Ph.D., went out of their way to insure that we learned of things which would have the greatest business value for our clients and readers. Similar efforts were made by Sysmex Corp. of America and Nichols Institute Diagnostics. Thank you!

One California lab’s turnaround story continues. Second quarter revenues at Unilab Corporation increased from $54.0 to $54.5 million. Most importantly, net income jumped up from last year’s $50,000 to $3.4 million. Of further interest, specimen volume declined 4%, but prices increased about 5%. Because of California’s highly-competitive lab environment, it is closely watched as a source of managed care trends which may later migrate to other cities.

CRITCHFIELD LEAVES QUEST FOR MYRIAD

Quest Diagnostics Inc. has lost their Chief Medical and Science Officer. Gregory Critchfield, M.D. announced his departure to become president of Myriad Genetic Laboratories, Inc., a subsidiary of Myriad Genetics, Inc. of Salt Lake City. Myriad expects that Dr. Critchfield’s experience will help it place its molecular genetic diagnostic products into both commercial laboratories and the clinical community.

Laboratory Corporation of America completed its acquisition of the laboratory assets of Universal Standard Healthcare, Inc., located in Southfield, Michigan. (See TDR, July 27, 1998.) As part of the transaction, LabCorp purchased stock in Universal Standard. Larry Leonard, Ph.D. and director of LabCorp’s western operations, will join Universal Standard’s Board of Directors.

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