Genoptix HAD to find a buyer BEFORE they were forced to release their disappointing Q4 numbers and the stock tanked all the way! No clinical lab in their right mind would buy Genoptix and here are the reasons why: *Reported revenue was based on lucrative out of network reimbursements, those days are gone. In network revenue is far less. *45+ Hemepaths employed by Cartesian and under contract with Genoptix. *Recent long term leases for buildings not needed. I’m sure when the dust settles we’ll find out Genoptix principles are owners of the real estate and will benefit for years to come. *Multiple pending lawsuits and investigations. In the end, Novartis paid $470M for a flow lab that doesn’t do anything different from anybody else.
sed to do business with Novartis. Great company, very research oriented. Big share holder in ROCHE Diagnostics business. The only way they save Genoptix is if they have a new drug with a propriatery marker that they only offer to Genoptix. also their headquarters are in cambridge Mass. And Switzerland. The Oncs I speak to are not happy that a drug company wants a lab. Look at smithKline dumping their lab in the late 90's also look at Genzyme dumping their lab business this last year to labcrap. Believe me they will cut the commish to the reps big time and pay an annual bonus. The big question will be wether the FTC allows this deal to take place. I think it is smoke and mirrors and Quest is going to come forward with more $$$.
