This is just plain wrong. Clients are changing FROM LabCorp. Please provide a few examples of diminished service.
Additional Acquisitions
- Thread starter Anonymous
- Start date
-
- Tags
- None
This is just plain wrong. Clients are changing FROM LabCorp. Please provide a few examples of diminished service.
Nextwave Diagnostics Lab & Wilmington Pathology Laboratory announced today
BioReference is a joke, run by the mob and everyone knows it
More aquisitions to come in the next few weeks.............
Unlike LCA & Quest, The people at Solstas know how to get things done!
More aquisitions to come in the next few weeks.............
Unlike LCA & Quest, The people at Solstas know how to get things done!
Come on, give us a hint. In what general area of the country and size?
Ah hell, they don't know what size and where. All they know is poochie and the weave said there'd be two small ones and then a bigger one. The smalls have been announced so the poster is assuming a big is coming. The two smalls have been sooooo small that I'd hardly consider Solstas "getting things done".
Solstas Lab Partners has a current regional footprint that extends throughout the mid-Atlantic and Southeast, and is growing at twice the industry rate. As it considers future expansion, Solstas will look to partner with like-minded companies that share its core philosophies, and that can meet a well-defined patient need. Solstas recently acquired Doctors Laboratory, Inc., extending the company’s growth into southern Georgia, northern Florida and portions of Alabama.
... Nextwave & Wilmington Pathology Lab
Solstas acquires two N.C. lab services firms; eyes more M&A in next month
Laboratory testing firm Solstas Lab Partners [2] is sating its acquisition appetite with more deals, this time acquiring two lab firms in Wilmington, North Carolina.
Nextwave Diagnostic Laboratories [3] and Wilmington Pathology Laboratory represent Greensboro, North Carolina-based Solstas’s third and fourth acquisitions in the last year, and executives say they’re eying even more.
“We expect to close a couple more transactions within the next 30 days that will continue to expand our coverage and geographic area,” Bud Thompson, Solstas’s executive vice president, told MedCity News.
The Wilmington deals follow the June acquisition of Select Diagnostics [4], also based in Greensboro. Last September, Solstas acquired Georgia company Doctors Laboratory.
Solstas has not disclosed financial terms of any of those deals. But the recent acquisitions follow a June investment [5] from healthcare venture capital fund Ascension Health Ventures. While Ascension touted its investment [6], the firm did not say how much money it invested in Solstas. The main financial muscle comes from majority owner Welsh, Carson, Anderson & Stowe [7], a private equity firm that first invested in the company in 2009.
Thompson said that Nextwave and Wilmington Pathology Laboratory give Solstas the opportunity to expand its offerings along coastal North Carolina. Nextwave’s customer base consists primarily of local physicians and nursing homes. Wilmington Pathology Laboratory focuses on cytology, particularly Pap and human papillomavirus tests. The company also has an exclusive contract to provide services to Wilmington Pathology Associates [8], a Wilmington-based anatomic pathology group that will remain independent but still partner with Solstas. Acquisitions in the last year have grown the Solstas East Coast footprint from Maryland to Florida and as far west as Kentucky.
Solstas provides laboratory testing services to hospitals and clinics. The company competes against lab testing giants Quest Diagnostics [9] (NYSE
GX [10]) and LabCorp [11] (NYSE:LH [12]), based in Burlington, North Carolina. Solstas is a much smaller player; while Quest and LabCorp measure their revenues by the billions of dollars, Solstas is now approaching $400 million in annual revenue, Thompson said.
But Thompson says that laboratory testing is a fragmented industry, which leaves room for regional players. He adds that Solstas is offering hospitals something different than its larger competitors: a chance to participate in Solstas’s growth through equity stakes in the company. Minority investors in Solstas include Novant Health [13] of Winston-Salem, North Carolina, as well as Carilion Clinic [14] in Virginia and Wellmont Health System [15] in Tennessee.
--------------------------------------------------------------------------------
Source: http://www.medcitynews.com/2011/07/...vices-firms-eyes-more-ma-in-next-month/print/
Solstas acquires two N.C. lab services firms; eyes more M&A in next month
Laboratory testing firm Solstas Lab Partners [2] is sating its acquisition appetite with more deals, this time acquiring two lab firms in Wilmington, North Carolina.
Nextwave Diagnostic Laboratories [3] and Wilmington Pathology Laboratory represent Greensboro, North Carolina-based Solstas’s third and fourth acquisitions in the last year, and executives say they’re eying even more.
“We expect to close a couple more transactions within the next 30 days that will continue to expand our coverage and geographic area,” Bud Thompson, Solstas’s executive vice president, told MedCity News.
The Wilmington deals follow the June acquisition of Select Diagnostics [4], also based in Greensboro. Last September, Solstas acquired Georgia company Doctors Laboratory.
Solstas has not disclosed financial terms of any of those deals. But the recent acquisitions follow a June investment [5] from healthcare venture capital fund Ascension Health Ventures. While Ascension touted its investment [6], the firm did not say how much money it invested in Solstas. The main financial muscle comes from majority owner Welsh, Carson, Anderson & Stowe [7], a private equity firm that first invested in the company in 2009.
Thompson said that Nextwave and Wilmington Pathology Laboratory give Solstas the opportunity to expand its offerings along coastal North Carolina. Nextwave’s customer base consists primarily of local physicians and nursing homes. Wilmington Pathology Laboratory focuses on cytology, particularly Pap and human papillomavirus tests. The company also has an exclusive contract to provide services to Wilmington Pathology Associates [8], a Wilmington-based anatomic pathology group that will remain independent but still partner with Solstas. Acquisitions in the last year have grown the Solstas East Coast footprint from Maryland to Florida and as far west as Kentucky.
Solstas provides laboratory testing services to hospitals and clinics. The company competes against lab testing giants Quest Diagnostics [9] (NYSE
GX [10]) and LabCorp [11] (NYSE:LH [12]), based in Burlington, North Carolina. Solstas is a much smaller player; while Quest and LabCorp measure their revenues by the billions of dollars, Solstas is now approaching $400 million in annual revenue, Thompson said.But Thompson says that laboratory testing is a fragmented industry, which leaves room for regional players. He adds that Solstas is offering hospitals something different than its larger competitors: a chance to participate in Solstas’s growth through equity stakes in the company. Minority investors in Solstas include Novant Health [13] of Winston-Salem, North Carolina, as well as Carilion Clinic [14] in Virginia and Wellmont Health System [15] in Tennessee.
--------------------------------------------------------------------------------
Source: http://www.medcitynews.com/2011/07/...vices-firms-eyes-more-ma-in-next-month/print/
Select Diagnostics...
Lab services M&A: Solstas buys Select Labs to grow footprint
North Carolina laboratory testing firm Select Diagnostics has been acquired by Solstas Lab Partners, which is steadily building its full-service laboratory offerings along the East Coast.
Financial terms of Solstas’s bid for Greensboro, North Carolina-based Select were not disclosed, but the acquisition comes a week after Solstas, also based in Greensboro, received an investment from healthcare venture capital fund Ascension Health Ventures. Financial terms of that investment also were not disclosed. Nevertheless, Solstas seems to be well capitalized for acquisitions. Ascension joins minority investors Carilion Clinic, Novant Health System and Wellmont Health System. Solstas’s primary financial backer is majority owner Welsh, Carson, Anderson & Stowe, a private equity firm.
Solstas itself is the product of laboratory industry M&A. In March 2010, Carilion Labs and Spectrum Laboratory Network merged, and yielded the name Carilion-Spectrum. Last September, Carilion-Spectrum acquired Doctors Laboratory, a Georgia company. Financial terms of that deal were not disclosed, but at that time, Carilion-Spectrum said the combined companies would have annual revenue that topped $350 million and more than 3,200 employees. Carilion-Spectrum changed its name to Solstas in February.
Select Diagnostics was established in 2001 by Ernie Knesel, one of the founders of the company that is now Burlington, North Carolina laboratory services and diagnostics company LabCorp (NYSE:LH). Solstas said that with the acquisition of Select, Solstas will have nearly 3,700 employees to provide a range of testing services to hospitals and other healthcare facilities in a nine-state footprint that stretches from the Northeast to the South.
Source: www.medcitynews.com/2011/06/lab-services-ma-solstas-buys-select-labs-to-grow-footprint/
Lab services M&A: Solstas buys Select Labs to grow footprint
North Carolina laboratory testing firm Select Diagnostics has been acquired by Solstas Lab Partners, which is steadily building its full-service laboratory offerings along the East Coast.
Financial terms of Solstas’s bid for Greensboro, North Carolina-based Select were not disclosed, but the acquisition comes a week after Solstas, also based in Greensboro, received an investment from healthcare venture capital fund Ascension Health Ventures. Financial terms of that investment also were not disclosed. Nevertheless, Solstas seems to be well capitalized for acquisitions. Ascension joins minority investors Carilion Clinic, Novant Health System and Wellmont Health System. Solstas’s primary financial backer is majority owner Welsh, Carson, Anderson & Stowe, a private equity firm.
Solstas itself is the product of laboratory industry M&A. In March 2010, Carilion Labs and Spectrum Laboratory Network merged, and yielded the name Carilion-Spectrum. Last September, Carilion-Spectrum acquired Doctors Laboratory, a Georgia company. Financial terms of that deal were not disclosed, but at that time, Carilion-Spectrum said the combined companies would have annual revenue that topped $350 million and more than 3,200 employees. Carilion-Spectrum changed its name to Solstas in February.
Select Diagnostics was established in 2001 by Ernie Knesel, one of the founders of the company that is now Burlington, North Carolina laboratory services and diagnostics company LabCorp (NYSE:LH). Solstas said that with the acquisition of Select, Solstas will have nearly 3,700 employees to provide a range of testing services to hospitals and other healthcare facilities in a nine-state footprint that stretches from the Northeast to the South.
Source: www.medcitynews.com/2011/06/lab-services-ma-solstas-buys-select-labs-to-grow-footprint/
Southern Diagnostics...
From the desk of David Weavil, CEO, Solstas Lab Partners:
7/19/2011
I am pleased to announce more exciting expansion news. Effective July 15th, we have acquired Southern Diagnostic Laboratories, LLC (“Southern), which is headquartered and has its main laboratory in Birmingham, Alabama. Currently, Southern services clients in Alabama and Mississippi. Southern became attractive to us principally because of its excellent service reputation, outstanding seasoned leadership team and its strategic fit with our growth plans. Southern’s full-service testing facility and service network will complement our Valdosta operation and pave the way for our Western growth.
Yes, beginning with the acquisition of Doctors Lab, and continuing with our more recently announced transactions, we are successfully expanding and enhancing our company network. Accordingly, often times, the merging of new companies into Solstas can create interesting challenges and increased workload.
From the desk of David Weavil, CEO, Solstas Lab Partners:
7/19/2011
I am pleased to announce more exciting expansion news. Effective July 15th, we have acquired Southern Diagnostic Laboratories, LLC (“Southern), which is headquartered and has its main laboratory in Birmingham, Alabama. Currently, Southern services clients in Alabama and Mississippi. Southern became attractive to us principally because of its excellent service reputation, outstanding seasoned leadership team and its strategic fit with our growth plans. Southern’s full-service testing facility and service network will complement our Valdosta operation and pave the way for our Western growth.
Yes, beginning with the acquisition of Doctors Lab, and continuing with our more recently announced transactions, we are successfully expanding and enhancing our company network. Accordingly, often times, the merging of new companies into Solstas can create interesting challenges and increased workload.
What this means is that everything is being done to make Solstas more attractive to Quest since they are weaker in the south where LabCorp is stronger. If you're not seeing the writing on the walls then you are blind.
Could be. You never know until a lot of cash is put on the table. However, Solstas is well on its way to being a billion $ company. Once that threshold is broken the SEC might not go along.
I hear what you're saying but it would be easy for Quest to come back with the stats showing what percentage they have in the marketplace overall. The simple fact is that local hospitals still do way more business than all the other labs put together. Yes, Quest and LabCorp are the two largest but overall they are still a minor player. Weird, but true. They are large compared to any other single lab but the business is made up of hundreds and hundreds of local labs/hospitals.
who's the idiot. The same sales team is in place in Valdosta. Maybe you just didn't see them before now. Show's how sleepy they were before the aquisition.