More venture capital money is moving into the medical laboratory industry in India. In September, Metropolis Healthcare Ltd of Mumbai, India, disclosed that Carlyle, a private equity company, had purchased a 36.5% ownership interest in the lab company. In April, Warburg Pincus sold its 27% in Metropolis to another share- holder, the Sushil Shah family.
Metropolitan Health is a company that operates over 125 laboratories-as well as supporting collection centers-in the countries of India, Sri Lanka, the UAE, South Africa, Kenya, Mauritius, and Ghana. Because of ongoing consolida- tion of medical laboratory testing companies in India, this sector has attracted the interest of investors from the United States and Europe over the past decade. There is also a shortage of pathologists in India and that is attracting the interest of entrepreneurs in the United States who want to serve the unmet demand for subspecialty anatomic pathology services in India.
NEW GEISINGER LAB HAS 164,00 SQ. FT.
In an official ribbon-cutting ceremony on September 24, Geisinger Health System of Danville, Pennsylvania, celebrated the grand opening of its new clinical laboratory facility. In August, all inpatient testing was moved into the 164,000 square feet lab. Built for $64.3 million and designed to be state-of-the-art, it replaces the old lab building that was con- structed in 1984. The capital investment and size of this new lab facility demonstrates the importance Geisinger Health places on lab medicine as a nec- essary resource to support per- sonalized medicine and population management needs.
- Agendia, Inc., of Irvine California, appointed Mark R. Straley as its new CEO. Straley formerly held executive positions at Thermo Fisher Scientific, Metamark Genetics, Ortho-Clinical Diagnostics, Ausam Biotechnologies, Bayer HealthCare, and Abbott Diagnostics.
- Pathologist Eleanor J. Herriman, MD, has assumed the position of Chief Medical Informatics Officer at Viewics, with headquarters in Sunnyvale, California. Previously Herriman was employed at G2 Intelligence, Xanapath, IC Sciences, SmartCells, Bain & Company, and Neuromedical Systems.
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…the DOJ naming individuals in its suit against Health Diagnostic Laboratory, sales consultants, and two other medical laboratory companies.
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That’s all the insider intelligence for this report. Look for the next briefing on Monday, October 26, 2015.