Jan 24, 2014 | Laboratory Hiring & Human Resources, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology, Laboratory Sales and Marketing, Management & Operations
When completed, this acquisition will give Quest Diagnostics a major laboratory presence in the backyard of competitor Laboratory Corporation of America
Another big lab domino fell in the continuing consolidation of the clinical laboratory testing industry. This time it was Solstas Lab Partners, which announced that it would be acquired by Quest Diagnostics Incorporated (NYSE:DGX).
The agreement was announced by both companies earlier this week. Quest Diagnostics will pay $570 million to acquire Solstas, which is based in Greensboro, North Carolina. Solstas provides medical laboratory testing services to clients in nine states across the South. Quest Diagnostics says it expects to close the sale by the middle of this year, subject to the usual regulatory reviews of such transactions. (more…)
Jul 16, 2012 | Laboratory Hiring & Human Resources, Laboratory News, Laboratory Operations, Laboratory Pathology
It’s been a challenging year for this New Zealand city’s medical laboratory testing professionals
CHRISTCHURCH, NEW ZEALAND—Two private clinical laboratory companies in this city have had quite a roller coaster ride during the past 18 months. Included in the ups and downs were a series of destructive earthquakes, a new contract bidding cycle that eliminated one of the two existing private medical laboratory companies, and a lab acquisition.
For pathologists and clinical lab administrators in other countries, there are useful lessons to be learned in the aftermath of the Christchurch earthquakes. Among other things, one clinical laboratory company needed to move its testing facility six different times in a year! That’s because aftershocks and ongoing engineering inspections revealed significant damage to these different buildings at different points in time.
Two Major Earthquakes within Six Months in Christchurch
It was September 4, 2010, when a magnitude 7.1 earthquake rocked the city, causing considerable damage but no fatalities. Just six months later, on February 22, 2011, a magnitude 6.3 earthquake hit Christchurch. This second earthquake caused substantial damage and loss of life. For this event, experts noted that the “intensity and violence of the ground shaking was measured to be… among the strongest ever recorded globally in an urban area.” (more…)
Jan 17, 2011 | Laboratory News, Laboratory Pathology
This Medical Laboratory Acquisition Positions Sonic in Nation’s Largest Lab Testing Market
Sonic Healthcare, Ltd. (ASX: SHL) acquired Physicians Automated Laboratory, Inc., (PAL) of Bakersfield, California, in a transaction that closed December 31, 2010. With this acquisition, Sonic Healthcare gains its first medical laboratory in California—the nation’s largest and most competitive market for clinical laboratory testing services.
Physicians Automated Laboratory was founded in 1967. It employs about 210 people and handles approximately 2,000 patient tests daily. One of the last of the pathologist-owned and operated local laboratory companies, PAL has two primary owners who are nearing retirement. Pathologist and Medical Director William Schmalhorst, M.D., is 80 years old. Chief Executive Officer C. Bruce Smith is 65 years old. (more…)
Sep 3, 2010 | Laboratory News, Laboratory Pathology
Meanwhile, both Quest Diagnostics and LabCorp report second quarter declines in specimen volume
Fewer patients visiting physician offices during second quarter 2010 is considered to be one reason why specimen volume declined at clinical pathology laboratory testing giants Quest Diagnostics Incorporated (NYSE: DGX) and Laboratory Corporation of America (NYSE: LH) during that three-month period.
For second quarter, LabCorp reported a 2% decline in specimen volume, along with a 4.2% increase in revenue. At Quest Diagnostics, the specimen volume decline was 1.3% and revenues declined by 1.4% in the second quarter 2010, compared to second quarter 2009.
(more…)
Jul 26, 2010 | Laboratory News, Laboratory Pathology, Uncategorized
Less funding for clinical pathology laboratory testing is just one of several market developments
Australia’s competitive market for clinical pathology laboratory testing seems poised for some major changes. Unfolding events are upsetting the pathology testing status quo in at least three ways. Caught in the middle of these disruptive forces are Australia’s big three of pathology testing: Healthscope Limited (ASX:HSP), Primary Health Care Limited (ASX:PRY), and Sonic Healthcare, Ltd. (ASX:SHL ).
The first change is linked to the federal government’s decision in recent years to scrap a decades-long pathology testing reimbursement arrangement. In 2009, it allowed the most recent price contract with the pathology testing industry to expire without renewal. Then, in November 2009, the government instituted a reduction in pathology testing fees.
(more…)
