November 19, 2012 “Intelligence:  Late Breaking Lab News”

Only one clinical lab industry vendor made the inaugural list of the Modern Healthcare’s fastest- growing health companies. It was Sysmex America, of Mundelein, Illinois. Sysmex ranked number 26 on a list of 40 healthcare companies. Modern Healthcare reported that Sysmex’s 2011 revenues of $229.6 million represented a growth rate of 161.1%!

MORE ON: Sysmex

Such rapid growth during the past year is notable. That’s because Sysmex America, a division of Japan-based Sysmex Corporation, is an in vitro diagnostic (IVD) manufacturer with a major presence in the routine, high-volume sector of clinical diagnostics. Routine testing has only grown at low single-digit rates over the past 15 years. Thus, the 161% growth in revenue indicates that Sysmex America has hit upon a winning combination of diagnostic technology, performance, price, and service that appeals to clinical labs here in the United States. Because of this growth, Sysmex America has just relocated into a bigger corporate office complex in Lincolnshire, near Chicago’s O’Hare Airport.

NEOGENOMICS REPORTS 42% RISE IN SPECIMENS

In reporting its third quarter earnings, Neogenomics, Inc., of Ft. Meyers, Florida, extended its double-digit growth streak once more. It reported 42% growth in specimen volume, 26% increase in revenue, and a 22% increase in EBITDA (earnings before interest depreciation, taxes, and amortization). Revenue for Q3-12 was $14.2 million, compared to $11.3 million in Q3-11. Neogenomics provides specialized cancer genetic testing services and has introduced several proprietary molecular diagnostic assays. The end of the TC Grandfather clause took effect during the quarter. “…our sales force spent a significant amount of time in the quarter educating existing clients about the TC Grandfather expiration rather than acquiring new clients,” stated CEO Douglas Van Ort in the company’s press release about third quarter earnings.

TRANSITIONS

    • Kellison & Company of Cleveland, Ohio, has appointed Scott Liff as President, Business Development. Liff has held executive positions with SmithKline Beecham Clinical Laboratories and John Muir Health.

Dark Daily Update

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…how researchers, after studying 19 published studies, determined that physicians in the United States fail to follow up as many as 62% of clinical laboratory test results and 35% of radiology results, thus missing critical diagnoses.

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