It’s a laboratory acquisition that is worth US$1.3 billion. In Europe, Cinven, a pri ate equity company, will acquire Labco SA of Paris, France. Labco operates medical laboratories in France, Spain, Italy, Portugal, Belgium, and the United Kingdom. It reports annual revenue of US$714 million, performs 150 million clinical laboratory tests yearly, and employs more than 6,000 people.
More On: Labco SA
Labco SA had announced plans to sell shares on the Euronext Paris stock exchange during May. A poor market environment caused executives at the lab company to consider the purchase offer from Cinven. In such countries as Belgium and the United Kingdom, Labco competes against business units of Sonic Healthcare, Ltd., of Sydney, Australia. Sonic’s labs generate annual revenue of about US$920 million in Europe, where it operates laboratories in Belgium, Germany, United Kingdom, Ireland, and Switzerland.
HTG Molecular Completes IPO
On May 6, HTG Molecular Diagnostics, Inc., of Tucson, Arizona, became the latest molecular diagnostics company to complete an initial public offering (IPO). It raised about $60 million and its shares trade under the symbol HTGM on the NASDAQ exchange. HTG says that it has automated systems and software to address “molecular profiling applications, including tumor profiling, molecular diagnostic testing, and biomarker development.” The President and CEO of HTG is Tim “TJ” Johnson, who formerly worked at Ventana Medical Systems.
XIFIN Acquires Imaging Company
Earlier this month, XIFIN, Inc., of San Diego, California completed its acquisition of VisualShare. Based in Salt Lake City, Utah, VisualShare has a “cloud-based medical imaging management solution and image collaboration platform.” The two companies have worked collaboratively for several years already and the VisualShare service has been integrated into XIFIN’s clinical products.
Transitions
Sysmex America Inc., announced the appointment of Ramon Simon-Lopez, M.D., as Medical Director. SimonLopez was formerly with Beckman Coulter Corporation, and held clinical positions at La Alianz Clinic and Hospital Clinic of Barcelona in Spain.
Dark Daily Update
Have you caught the latest e-briefings from DARK Daily? If so, then you’d know about…
…the accelerating enrollment growth of seniors selecting Medicare Advantage plans in recent years. This reduces the number of seniors still in the Part B program. Medicare Advantage enrollment is currently 38% of all beneficiaries.
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