How much will plus sell for?

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Nothing

Plus has nothing to offer to a potential buyer, just a middling lab on shaky financial ground. Easier for a potential buyer to simply send in their sales reps and lure the business away for free.

Not even in the same ball park as Genzyme, which is a company developing novel pharmaceuticals for rare genetic diseases.

The other two, Clarient and Genoptix, are more similar in that they provide pathology services like Plus. However both focus of hematopathology diagnostics and speciality tests.

Plus primarily diagnoses prostate cancer. Their business model focuses on skirting the Stark Law in order to offer a client a kickback for sending their biopsies to Plus. This is the only reason they have any business at all. No real quality here nothing really innovative. Thus no real value to a buyer.
 






Considering minus cant make payroll frequently and has trouble paying vendors I would say they have zero or possibly negative equity.

Busting out my calculator

3 x a negative number = a bigger negative number

Ah, there we have it plus would have to pay big bucks for someone bail them out.
 


Clarient made out the best. They had no debt and were profitable. In addition they got the highest multiplier in the industry. GE wanted them because they have great leadership and sales people. In addition they own several companies that actually are involved in R&D on new maarkers and tests. Everyone else does not come close. even Genoptix does not have "TRUE" research, hence why they needed Novartis. Thing is when all the law suits settle who knows if the deal will even happen.
Plus is just another lab like CBL. CBL only got 122 million. Plua will be about the same.
 


The author of Post #2 has no idea what they are talking about. Clarient is nothing like the other labs, you are full of crap. Just look at the previous post to mine. Clarient owns Applied Genomics. they have 90+ Antibodies based on the Human Genome Project that no one else can even think of trying to develop. they also have patented micro disection and molecular techniques as well as tons of research contracts. From what I heard on a product forum they just had they have developed specialized tests for Breast Cancer and Lung Cancer. they also now have all of GE HEALTHCARE behind them!

And you need to learn more about finance CBL did 80 million in sales and were only paid 122 million that is not two-three times sales.
 


"Not even in the same ball park as Genzyme, which is a company developing novel pharmaceuticals for rare genetic diseases."


Moron!!!! Genzyme Pharmaceuticals sold Genzyme Genetics to Lab Corp. It was the pharma company that made drugs. The Pharma company dumped Genzyme because they were fo sale and felt Genzyme Genetics(Path lab division) was weighing them down and hindering the sale.
I wish people would do a little research before putting stuff here.
 


you guys are idiots. Plus is cash flow positive and has not diluted the company what so ever. the idiot that says they cant meet payroll is just a has been plus rep who didnt cut it.

Plus is kicking ass and will be a force in all 3 markets. You guys are full of shit.
 


Anonymous said:
Clarient made out the best. They had no debt and were profitable. In addition they got the highest multiplier in the industry. GE wanted them because they have great leadership and sales people. In addition they own several companies that actually are involved in R&D on new maarkers and tests. Everyone else does not come close. even Genoptix does not have "TRUE" research, hence why they needed Novartis. Thing is when all the law suits settle who knows if the deal will even happen.
Plus is just another lab like CBL. CBL only got 122 million. Plua will be about the same.
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Have you ever seen the inside of CBL and Plus. I dont even think CBL is all that but CBL is a superior lab to plus in every possible way.

Plus will not be purchased. They dont have a long term track record of success. They needed a huge infusion of cash during the Lakewood -- plus transition. They are not much better off now. Too many good competitors in the AP world, too much risk involved.
 




If PLUS is such good company why are they laying off reps left and right with no reason? Because they are losing money faster than they make it. They are not cash strong and that is why they can not make payroll. They can not compete with the local labs and top national labs so they try to buy off the docs with EMR donations. They are also in a law suit with Abbot because they ripped off their FISH, once doctors realize this they will go with a more secure lab that has a proven track record!

Good luck out there "MINUS" you will surely need it.
 


Plus is too non compliant to be purchased, just like genpath and bostwick. To many under the table deals based on adding extra jars for more billable codes in the TC/PC model. Minus will just fade away or be a regional lab player.
 


Anonymous said:
If PLUS is such good company why are they laying off reps left and right with no reason? Because they are losing money faster than they make it. They are not cash strong and that is why they can not make payroll. They can not compete with the local labs and top national labs so they try to buy off the docs with EMR donations. They are also in a law suit with Abbot because they ripped off their FISH, once doctors realize this they will go with a more secure lab that has a proven track record!

Good luck out there "MINUS" you will surely need it.
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Dont forget they also buy off docs by renting space that they dont even use. I am aware of plus renting unfinished space in the basement of a doctors office for "storage" who just happens to send them biopsies. Textbook Stark violation. If anyone blows the whistle on them, plus is looking at a 6 figure fine. Everyone in the state knows this, no one has spoken up (yet) because the doc is so well liked.
 




Plus rents space from a urologist on N Main St. providence RI in exchange for his biopsies. Everybody who works at the Miriam hops and rih knows this. Plus also provided this group with free office equipment, a free microscope and a free LIS. Only a matter of time until CMS is notified.

Want any more details?
 


Anonymous said:
Plus rents space from a urologist on N Main St. providence RI in exchange for his biopsies. Everybody who works at the Miriam hops and rih knows this. Plus also provided this group with free office equipment, a free microscope and a free LIS. Only a matter of time until CMS is notified.

Want any more details?
Click to expand...

Just another competitor who upset being out sold by a plus rep. Nice try but you must be talking about Genpath. their the only company that rents out space for docs. You need to get your facts straight and try selling instead of being an idiot liar.
 


Call the office manager (Toni at Providence Urology, N Main St., Providence RI) and ask her who owns the microscope in their office. Ask her who paid for the LIS. Ask her if Plus rents out the basement for storage. She has already told everyone who will listen about this great arrangement they have with plus.

This urology practice in a recent meeting with > 10 people attending with the miriam hospital told everyone there they would bring back their biopsy business tothe hospital if the hospital would rent the space plus rents and set up a phlebotomy laboratory. When they were advised by counsel in the room that this would be considered a kickback, they answered another lab (plus) rents the space. The saddest part about this is that this urology practice has no idea how illegal this is, as they were re-assured the entire time by plus. Now that they are used to getting this kickback they feel entitled and ask the hospital to match the kickback!!

The pathology chairman is too old to classy to whistle blow on this urologist, they go way back all the way to high school (both went to clasical in providence). He just retired and his replacement is much more aggressive, more business minded and will either lure this business back to the hospital, alert CMS to plus's business tactics or both
 




In responce to post # 15!!! I wrote on the BioReference board about them renting space. We ran into this all the time when I worked for LC.
I DID NOT post the same comment here!!! This is my first time visiting the PLUS thread. I only came here to learn more about them because I heard that some folks were involved in a law suit about miss diagnosed cancers.
 



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