Another long-established regional laboratory company is about to be acquired. On November 27, Boyce and Bynum Pathology Laboratories of Columbia, Mo., disclosed that it had entered an agreement to be acquired by Quest Diagnostics Inc. Notably, the press release about the agreement states that the anatomic pathology division, Boyce and Bynum Professional Services, Inc., and the long-term care business of the clinical lab company, are not included in this purchase. The two companies said the transaction is expected to close in the first quarter of 2019.
MORE ON: Boyce and Bynum
This is the first significant lab acquisition disclosed by either of the two blood brothers since several lab purchases were announced in the early months of this year. With only four weeks left before Dec. 31, there may be additional deals announced because lab sellers want to finalize the sale by year-end for tax purposes and the public lab companies want to acquire the assets early enough in 2019 to contribute to their revenue and earnings.
DOCUMENTARY FILM ABOUT THERANOS WILL SCREEN IN JAN.
Medical laboratory professionals continue to be fascinated by Theranos and how its former CEO, Elizabeth Holmes, managed to hoodwink savvy investors, the national media, and others for several years. Now comes news that a documentary film, titled, “The Inventor: Out for Blood in Silicon Valley,” was accepted and will be screened at the Sundance Film Festival in Park City, Utah. The festival starts on Jan. 24. The film was directed by Alex Gibney and produced by Gibney, Jessie Deeter, and Erin Edeiken. HBO participated in the production of this film.
- ACM Global Laboratories, a division of Rochester Regional Health in Rochester, N.Y., appointed Brian Wright to be its new President. Wright previously held executive positions at SP Industries, Remedi SeniorCare Pharmacy, TE Connectivity Medical Products, Stryker, and was a captain in the U.S. Army.
- Glenn Miles is the new Chief Financial Officer at Cancer Genetics, Inc., of Rutherford, N.J. He formerly held positions at Catalytic Consulting LLC, Pfizer, Lehman Brothers, AT&T Mobility, and Grant Thornton.
That’s all the insider intelligence for this report.
Look for the next briefing on Monday, December 24, 2018.
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…new insights into the source of infections. A study at Stanford University used a new bioinformatic tool to trace hospital-acquired bloodstream infections to patients’ own digestive tract. More research is needed to confirm these findings.
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