Last month, Dignity Health acknowledged that it is engaged in negotiations to sell its lab outreach business that is based in Stockton, California. The lab outreach program is known as HealthCare Clinical Laboratories and is associated with 294-bed St. Joseph’s Medical Center. The story surfaced after Dignity Health (formerly know as Catholic Healthcare West) notified lab employees that the health system had put the laboratory outreach program up for sale.
MORE ON: Lab Sale
HealthCare Clinical Laboratories (HCL) is a substantial enterprise. In a news story published in 2009, it was reported that the lab handled 3 million specimens per year, earned gross revenue of about $80 million annually, and employed 365 workers. HCL acts as a reference laboratory for the Dignity Health hospitals, primarily those hospitals located in California.
CHINESE COMPANY INVESTS $22.4 MIL IN SALADAX
Now it is the turn of the Chinese to invest in American lab testing companies. On March 5, publicly- traded Shanghai Fosun Pharmaceutical Co., Ltd., stated that it had invested $22.4 million in Saladax Biomedical, Inc., of Bethlehem, Pennsylvania. Saladax develops and commercializes “novel diagnostic assays… for new and existing therapeutics.” A division of Fosun in China will be Saladax’s partner in that country and will be the exclusive manufacturer and distributor of Saladax’s MyCare oncology dose management assays.
- Mission Health System of Ashville, North Carolina, has appointed Priscilla Cherry as its Executive Director of Laboratory Services. Cherry has held executive positions with Fairview Health System, Premier, Inc., and Kaiser Permanente.
- Haywood Cochrane Jr., was selected as Chairman of the Board for DARA BioSciences, Inc., of Raleigh, North Carolina. He has served on its board since 2008. During his career, Cochrane was COO of Roche Biomedical Laboratories, CEO of Allied Clinical Laboratories, and CFO of Laboratory Corporation of America.
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