Laboratory and Pathology Audio Conferences:Laboratory and Pathology Mergers & Acquisitions:
Must-Have Essentials To Learn Before You Sell or Buy A Lab
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YOUR PANEL OF EXPERTS:
Doug Brown, Managing Director, Wachovia Securities
Anthony Konkoly, Esq, Member, McDonald Hopkins, LLC
It looks like a seller's market in the lab industry right now. Merger & Acquisition activity continues at a brisk pace. Just a few weeks ago, Sonic Healthcare, Ltd. announced it was purchasing Clinical Laboratories of Hawaii, LLP for an estimated $121 million dollars. That sale is expected to be completed by the end of third quarter this year.
In 2007, AmeriPath, Inc. was acquired by Quest Diagnostics, Inc. for approximately $2 billion. With annual revenue of $750 million, the multiple paid in this transaction was 17 times EBITDA (earnings before interest, taxes, depreciation, and amortization).
Record prices like these for recent lab sales have startled many-and are motivating laboratory owners and shareholders to consider selling their labs. And because the number of qualified, motivated buyers has increased, it's a seller's market, with buyers willing to pay these higher-than-normal prices.
To help lab owners, shareholders, and pathologists like you take advantage of this hot market, THE DARK REPORT and DARK DAILY created a brand-new audio conference, "Lab And Pathology Mergers & Acquisitions: Must-Have Essentials To Learn Before You Sell or Buy A Lab."
Find out how to get your strategic business planning on the right track. Learn what it takes to power your laboratory and pathology group into a more profitable enterprise now, thus supporting a higher value and sale price should you decide to sell your lab.
Even if you're still years away from selling, this conference is your chance to learn how to avoid the problems and pitfalls that have cost some unwitting pathologists and lab sellers big money when they eventually sold their labs.
THE DARK REPORT AUDIO CONFERENCE DETAILS
DATE: Wednesday, July 30, 2008
TIME: 1 p.m. EDT; 12 p.m. CDT; 11 a.m. MDT; 10 a.m. PDT
PLACE: Your telephone or speakerphone
COST: $195 per dial-in site (unlimited attendance per site) by 7/18/08; $245 thereafter
TO REGISTER: Click here or call 1-800-560-6363 toll-free
For one low price-just $195 (through 7/18/08; $245 thereafter)-you and your entire team can take part in this fast-paced, insightful audio conference. Best of all, you'll be able to connect personally with our speakers when we open up the phone lines for live Q&A.
This is your opportunity to spend time with two of the lab industry's most respected experts in laboratory business transactions. Both Doug Brown and Anthony Konkoly have handled dozens of high-profile laboratory business transactions. Each has seen the best and the worst and will share lessons learned with lab owners and pathologist-partners.
Here's just some of what you'll learn during this insightful 90-minute conference:
* What buyers value most when considering a laboratory acquisition.
* Three things a lab owner can do to maximize the value and sales price of his/her laboratory.
* Recent laboratory sales and what affected the final prices paid.
* Secrets of auditing your lab and fixing problems to add value, raise the sales price, and could increase cash flow.
* Tips for assembling the best "deal team."
* The five most expensive errors lab owners make and how to fix them.
* Four focus areas for sellers that support a strong sales price-and improve short-term profits before the sale.
* The most important tax planning steps every lab owner and pathologist-partner should take, well before the lab is listed for sale.
* How to avoid the "double tax" on the sale of C-Corporation assets.
* The best structure for contracts between the lab and its employees, suppliers and payers that support a trouble-free sale.
...and much more!
HOW TO REGISTER:
1. Online
2. Call toll free: 800-560-6363.
Registrations accepted until Tuesday, June 30, 2008, noon EDT.
Cancellations before 5:00 p.m. EDT on Monday, July 28, 2008 may receive a full refund less a $25 service charge.
Your audio conference registration includes:
* A site license to attend the conference (invite as many people as you can fit around your speakerphone at no extra charge)
* Downloadable PowerPoint presentations from our speakers
* A full transcript emailed to you soon after the conference
* The opportunity to connect directly with our speakers during the audience Q&A session
Faculty Bios:
Doug Brown has been in the investment banking industry since 1991 and is a Managing Director in the Healthcare Investment Banking Division at Wachovia Securities. He has worked on initial public offerings, sellside and buyside advisory on mergers and acquisitions, private equity placements and private and public debt offerings. Prior to joining Wachovia, Brown was a Vice President in the Healthcare Investment Banking Division at Salomon Smith Barney. He received his MBA from the Fuqua School of Business at Duke University and his BBA in Finance from the University of Texas at Austin. Specific to the laboratory services industry, Brown has advised multiple clients, including Clinical Pathology Laboratories, American Esoteric Laboratories, Specialty Laboratories, Ameripath, Bostwick Laboratories, Berkeley HeartLab, and others.
Anthony Konkoly, Esq. is a Member of McDonald Hopkins, LLC, a full-service law firm with offices in Cleveland, Columbus, Detroit, Chicago and West Palm Beach. He has a varied corporate law practice with extensive experience in mergers, acquisitions, divestitures, joint ventures and international business transactions, representing publicly held, private companies and emerging businesses. Konkoly has had extensive experience representing various parties in the sale of laboratory businesses, the establishment of laboratory joint ventures and the formation of new lab companies. Konkoly earned his degree, magna cum laude in 1986 from Case Western Reserve University. He received his degree in Finance, with distinction, in 1982 from the University of Virginia. He is a member of the Ohio State Bar Association and the Greater Cleveland Bar Association.
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© 2008 The Dark Group, Inc.
Genetic Tests On The Internet: Understanding The Dangers-And Opportunities-For Your Lab!
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YOUR PRESENTERS:
Trisha Brown, MS, CGC, Vice President Clinical Affairs, DNA Direct
Robert L. Michel, Editor-In-Chief, THE DARK REPORT
Genetic testing has hit the Internet! Now, any consumer with a computer and access to the Web can find a company-often with absolutely no connection to healthcare or professional medical services-offering genetic tests for just about anything. For the right price, of course.
Whether you're a laboratory professional, pathologist, scientist, clinical chemist or lab administrator, you should be concerned about the threat of unregulated genetic tests offered by Internet companies to any consumer willing to pay for it. Because these offerings can, and will, have an impact on your bottom line.
When consumers can bypass physicians and established medical laboratories to get their own genetic tests-whether for serious illnesses or something more frivolous, like predicting eye color or a person's musical talents-there's no turning back. In this new, Internet-dominated world of genetic testing, pathologists and other clinically trained laboratory professionals like you will no longer be the first choice for your expertise, advice, and support.
Get answers to your own questions and learn what steps you can take to protect your lab when you join THE DARK REPORT for, "Genetic Tests On The Internet: Understanding The Dangers-And Opportunities-For Your Lab!" on Wednesday, June 25, 2008 beginning at 1:00 p.m. EDT (10:00 a.m. Pacific).
THE DARK REPORT AUDIO CONFERENCE DETAILS:
DATE: Wednesday, June 25, 2008
TIME: 1 p.m. EDT; 12 p.m. CDT; 11 a.m. MDT; 10 a.m. PDT
PLACE: Your telephone or speakerphone
COST: $195 per dial-in site (unlimited attendance per site) by 6/20/08; $245 thereafter
TO ORDER RECORDINGS: Click here or call 1-800-560-6363 toll-free
For one low price-just $195 (through 6/20/08; $245 thereafter)-you and your entire team can take part in this fast-paced, insightful audio conference. Best of all, you'll be able to connect personally with our speakers when we open up the phone lines for live Q&A.
Here's just some what you'll learn during this comprehensive 90-minute audio conference:
Why growing numbers of consumers are seeking out genetic tests online and are willing to pay $1,000 or more (out of pocket) for them.
How technological changes now allow companies to offer genetic testing and molecular diagnostics online directly to consumers.
DNA Direct's successful business model as an Internet-based, scientifically validated source of genetic tests, professional counseling services, and comprehensive information-and how this model could work for your company, too.
The business strategies of companies like 23andMe.com, Navigene.com, and DecodeGenetics.com that attracted substantial capital investments from companies like Google.
How to anticipate the consequences of this trend and its impact on your lab.
How to master the strategies that can help your lab compete in this new online genetic testing world.
Proven methods for developing consumer-friendly approaches to serving local customers who come to your clinical lab or pathology group with questions about genetic testing.
...and much more!
Faculty Bios:
Trisha Brown MS, CGC, is the Vice President of Clinical Affairs for DNA Direct and is responsible for the day-to-day clinical operations and development of new clinical products and strategies. Ms. Brown is an executive with more than 16 years of experience in the business of medical genetics. Prior to joining DNA Direct, she was an Associate Vice President at LabCorp and Director of Strategic Technology Management and Implementation. In this role, she oversaw the commercialization of new technologies and developed expertise in operations, project management, strategic planning and product development. She was also responsible for LabCorp's genetic counseling services. Ms. Brown has clinical experience and has provided genetic counseling for prenatal, craniofacial, cancer and pediatric patients. She is a board certified genetic counselor, with an M.S. degree in Human Genetics from Sarah Lawrence College.
Robert L. Michel is Editor-in-Chief of THE DARK REPORT, an intelligence service and publication providing economic and strategic assessment of the clinical laboratory industry for senior executives and pathologists. He produces the "Executive War College on Laboratory and Pathology Management," which has an international reputation as a source of innovative and effective management strategies and business models for pathologists and laboratory executives. Mr. Michel's expertise is strategic analysis, corporate planning and market trend assessment. He was Director of Strategic Analysis and Special Projects for the regional laboratory division of Nichols Institute prior to and through its merger with Corning Clinical Laboratories (now Quest Diagnostics Incorporated). His corporate experience includes executive positions with Proctor & Gamble Distributing Company, Financial Corp. of America and Centex Corporation. In addition, he is a winner of the Newsletter and Electronic Publisher Association's prestigious "Best Investigative Reporting" Award and is listed in Marquis Who's Who in Healthcare and Medicine. Mr. Michel earned a B.A. in Economics from UCLA.
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