Without much fanfare or notice, Liposcience Inc. of Raleigh, North Carolina tested the waters for an initial public offering (IPO) last month. It found market conditions unfavorable for its proposed offering of $92 million and deferred its IPO. Liposcience, with annual revenues of $18.5 million, markets a cardiovascular test built upon nuclear magnetic resonance (NMR) spectroscopy technology which is designed to compete against traditional lipid panels. Liposciences is also working on a proprietary test to detect insulin resistance, a precursor to type 2 diabetes.
LAB MISCELLANY
Oregon Medical Labs in Eugene, Oregon boasts a survivor of the groovy 1960’s rock and roll scene. Ran Whitehead, MT, currently its COO, did a six-month stint as drummer for the famed rock ensemble “Turtles” during the late 1960’s. (See pages 2-4.)
MANAGED CARE CREATES BIG DROP IN HOSPITAL ADMISSIONS BETWEEN 1985-2000
Hospital discharges declined 24% between 1985 and 2000, according to new data released by the Centers for Disease Control and Prevention (CDC). The CDC also reports that the average length of stay fell from 6.6 days in 1985 to 4.9 days in 2000. CDC data confirms the ongoing shift to outpatient procedures. It says that 63% of all surgeries in 2001 were performed as outpatient pro- cedures, compared with 50% in 1990 and 16% in 1980.
ADD TO: Hospital Admissions
These numbers clearly demonstrate how managed healthcare impacted clinical practices during the 1990s. Cost management and control of utilization were two key dynamics. The CDC reports that, nationally, there were 115 hospital discharges per 1,000 population in 2001. This is a drop from 151 per 1,000 population in 1985.
COMINGS & GOINGS:
•Bio-Reference Laboratories, Inc. of Elmwood Park, New Jersey announced that John W. Littleton is its new Vice President of Sales. Littleton has extensive sales management experience, most recently with Specialty Laboratories and Quest Diagnostics Incorporated.
•IMPATH, Inc. reached into the lab industry ranks for its new chief financial officer (CFO). James V. Agnello was named as Senior Vice President and CFO. Agnello was Vice President and Controller of SmithKline Beecham Clinical Laboratories (SBCL) prior to its acquisition by Quest Diagnostics in 1999.
•Premier, Inc. promoted Bob Hamon to Corporate Vice President of Operations For Group Purchasing Services. Hamon managed Premier’s services in clinical lab and imaging. His expanded range of duties will cross all group purchasing lines. Prior to joining Premier several years ago, Hamon, an MT, was Lab Administrator of Presbyterian Laboratory Services in Charlotte, North Carolina.
