COVID-19 Triggers a Cash Flow Crash at Clinical Labs Totaling US $5.2 Billion in Past Seven Weeks; Many Labs Are at Brink of Financial Collapse

Limited availability of COVID-19 clinical lab tests is major topic at federal briefings and news stories, yet many of nation’s labs are laying off staff and at point of closing Cash flow at the nation’s clinical laboratories has crashed, with revenues down by more than $5 billion since early March. This is the biggest financial disaster for the nation’s clinical laboratory industry in its 100-year history and it couldn’t come at a worse time for the American public and the US healthcare...

Prices of Clinical Pathology Laboratories Are Rising Due to Buyer Demand

Conference on May 5 about clinical laboratory and pathology mergers and acquisitions For owners and sellers of clinical laboratories and anatomic pathology groups in the United States, the past six months have been rosy times. That’s because buyers have stepped up and paid strong prices for the medical laboratory companies and pathology testing firms that came to market during this time. Experts predict that merger and acquisition (M&A) activity in the clinical laboratory industry will...

LabCorp to Acquire Genzyme’s Genetics Pathology Laboratory Testing Business for $925 Million

Price of 2.5 times revenue makes this a high price for a clinical laboratory Monday, Laboratory Corporation of America (NYSE: LH) agreed to purchase Genzyme Genetics Corp’s. (NASDAQ: GENZ) fetal genetics and oncology testing division for $925 million in cash. Genzyme has shopped its neo-natal genetic testing business since last year. LabCorp is paying a purchase price that is 2.5 times Genzyme’s $371 million in annual revenue. This is one of the highest prices paid for a clinical pathology...

Revisiting September 1999: Big Lab News Was AML’s Merger with APL

It was The Dark Report’s headline story ten years ago this month! Introducing a new feature: Ten Years Ago in The Dark Report To give Dark Daily readers better context about unfolding events in the laboratory industry, we are pleased to introduce this feature which will appear regularly. Each month, we will dive into our archives and share with you the key events of ten years ago, along with an update to those companies and laboratory executives. American Medical Labs Merges with Associated...

Seattle’s PACLAB Network Wins Market Share From Blood Brothers

In Seattle, Washington, the two blood brothers are dealing with an upstart competitor—one that they cannot acquire nor make go away. Since it became operational in 1997, PACLAB Network Laboratories has directly challenged the national laboratories on what can be considered their “home turf,” since both national labs operate regional testing laboratories in Seattle. Not only has it made steady gains in market share, but PACLAB is poised to become the market leader in Seattle. Since the year...
;