Dec 16, 2009 | Laboratory Management and Operations, Laboratory News, Laboratory Pathology
Acquisition is a deal between two private equity firms
Spectrum Laboratory Network of Greensboro, North Carolina, will be acquired by Welsh, Carson, Anderson, & Stowe. Investment funds managed by Apax Partners are the sellers and the purchase price is $230 million. It is the highest dollar value acquisition of a clinical laboratory during 2009.
The acquisition agreement was announced at the end of last week. It brings Welsh, Carson back into the laboratory testing industry for the first time since 2007. During this decade, Welsh, Carson held an equity ownership in LabOne, Inc., which was based in Kansas City, Missouri and was building a fast-growing business in medical laboratory testing.
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Dec 11, 2009 | Laboratory Management and Operations, Laboratory News, Laboratory Pathology
Noted Humorist Garrison Keillor Encounters the Truth of Inadequate Funding for Clinical Laboratory Testing Services
It is widely recognized by pathologists and clinical laboratory managers in the United States and abroad that medical laboratory testing is a “high touch” clinical service. Each day, lots of patients interact with laboratory professionals to provide specimens. Physicians know that their own successful medical practice is dependent on a smooth-functioning and high-quality pathology testing service that delivers accurate, reliable lab test results.
Another truth in today’s healthcare system is selective underfunding of certain clinical laboratory testing services in the United States. In this country, pathologists and clinical lab managers are all too familiar with this situation. What might be at the top of the list of inadequately-reimbursed laboratory procedures is venipuncture. It has been years since Medicare, Medicaid, and private payers have reimbursed the venipuncture procedure at a level that is close to the cost of providing that service to patients.
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Dec 2, 2009 | Laboratory News, Laboratory Pathology
Consolidation continues in the lab testing sector that serves physicians’ offices
Last week it was disclosed that the health system which owns Centrex Clinical Laboratories, Inc. is selling its laboratory testing business to Laboratory Corporation of America (NYSE: LH ). Faxton-St. Luke’s Healthcare stated that it expected the transaction would be finalized by the end of the year.
Several times in recent years, Faxton-St. Luke’s Healthcare shopped Centrex Clinical Labs to interested buyers. For that reason, news of the sale to LabCorp did not surprise informed observers.
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Nov 9, 2009 | Laboratory Management and Operations, Laboratory Pathology
Hospital/commercial lab JV finds success in competitive Salt Lake City market
DATELINE: SALT LAKE CITY, UTAH—Since its formation less than two years ago, MountainStar Clinical Laboratories, LLC, has more than doubled in size. This unique laboratory outreach joint venture is a partnership between MountainStar Healthcare and Pathology Associates Medical Laboratories (PAML).
To learn more about this fast-growing joint venture, last week, Dark Daily traveled to Salt Lake City to visit MountainStar Clinical Laboratories, LLC . First, some background about this partnership.
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Apr 24, 2009 | Laboratory Management and Operations, Laboratory News, Laboratory Pathology
Today in Renton, Washington, Valley Medical Center announced a new comprehensive contractual relationship involving medical laboratory services with PACLAB Network Laboratories of Bellevue, Washington. This is a significant development in the Greater Seattle market for several reasons.
First, it means that Quest Diagnostics Incorporated (NYSE:DGX) has lost another important hospital relationship in Greater Seattle, once again to PACLAB. It was back in December, 2003, when 244-bed Evergreen Hospital Medical Center of Kirkland, Washington, similarly terminated its comprehensive laboratory testing relationship with Quest Diagnostics and became part of the PACLAB regional laboratory network.
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