In recent months, the buzz around the lab industry in Southern California has been that Healthline Clinical Laboratories, Inc. is up for sale. THE DARK REPORT believes news of a sales agreement is imminent. The new buyer is likely to be a pair of looking-for-work lab executives in the region, backed by private equity investors. Based in Burbank, California, Healthline is one of the larger independent lab companies still operating in the United States. It has estimated annual revenues of about $35 million.
MOREON: Healthline Labs
Healthline Clinical Labs has not been easy to sell because of its recent settlement of Medicare and Medicaid fraud and abuse allegations. In April 2004, owners Aramais Paronyan, M.D. and Natella Lalabekyan, agreed to pay $10 million to the United States and California. This settled claims of illegal billing practices at the lab that occurred between 1996 and September 2003.
MEDICAL BOOKS AND JOURNALS ARE MUCH NEEDED IN IRAQ
Laboratorians have an opportunity to make a difference. In Iraq, healthcare professionals desperately need basic and specialty medical, surgical, nursing, pharmacy, dental, and veterinary texts and journals. They often must rely on used copies of out-of-date editions. Inside Iraq, there is no current production of medical books and educational materials. Medscape, the Web portal for healthcare professionals, has issued a new call for its readers to encourage medical colleagues to donate their used medical books and journals.
ADD TO: Help for Iraq
Pathologists, medical technologists and other laboratory professionals can help this effort by recycling unused medical texts and journals. Information on how to do this can be obtained by contacting email@example.com and firstname.lastname@example.org, or by visiting www.medscape.com. Since 2003, a “virtual” organization of military and civilian volunteers has come together to collect and transport these books and journals to the Iraqi hospitals, schools, and community clinics where they are needed most. Donors must pay U.S. postage only.
NEW COO AT LABCORP
Last month, on December 1, 2005, David. P. King assumed new duties as the Chief Operating Officer (COO) of Laboratory Corporation of America. King takes over for Richard Novak, who will be LabCorp’s Executive Vice President, Office of Strategic Planning and Corporate Development, until his retirement, scheduled for December 31, 2006. Inside and outside LabCorp, knowledgeable observers believe that King is a prime candidate to eventually replace current LabCorp Chairman and CEO, Thomas P. MacMahon. King has served as LabCorp’s General Counsel since 2001. He has been responsible for strategic planning, public policy, M&A, and licensing. He was also involved in managing
US LABS and Esoterix.