LabCorp purchasing Caris Diagnostics

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I have worked at 2 other labs.. that said that very thing... They even had a big lunch and CC's telling us.. how it was false into. and hype. We were not for sale... and guess what within 30- 60 days of those calls and lunches we were purchased by LCA.. Never say never. Everyone has a price.
They will tell you right to your face and look you in the eye and tell you they are not selling they HAVE to.. they cannot leak that info.
I thought the same thing.. we were not for sale.. I was wrong both times.
So keep on thinking what you will.. only time will tell.
I hope for your sake you are right. I would not wish LCA on my worst enemy.
Good luck to you. I would still be looking and interviewing just for the sake of turning down another job if you want. dust off the resume.. it could not hurt to look. Always be prepared... I know a few ppl @ Dianon and Dynacare would have loved to hear advice like that... that are now no longer with LCA after the purchase.
So repeating.. we are not for sale many times does not make it true.. We are at LCA and we hear a whole different story. how are consultants are going to Texas etc... PPl from Dallas are busy working on a project etc. etc.
It is always the same.. but hey maybe it is another lab...
 






Keep in mind two factors when you hear this type of thing:

1. All of these labs are for sale. Most of them were created to be sold to either one of the big boys or a second tier lab so the combined entity had a high enough revenue number to attrack suitors. People have watched upper management in acquired labs walk away with a pile of cash and they want to jump on that trin. If the investment house that holds most of the Cairs stock thinks it can cash out; the company is gone. Same for Bostwick, Lakewood, Clarient, Neogenomics, etc.

2. LC and Quest are constantly monitoring these labs. What growth they can't achieve organically, they need to achieve through acquisition. Everyone is on the big boys radar screen, occasionally the blip gets a bit bigger.

a. If you want to now if a lab is going to be acquired, look at total revenue to see if its large enough to matter to LC or Quest's bottom line.

b. Look at EBITA to see if the financials are fairly sound.
c. Are they clear of any legal issues that may impact value.
d. Consider billing practices to see if small lab monkey business would significantly erode value.

If you work for Caris and they are acquired, don't worry, a band of your coworkers will start a new lab to begin the cycle all over again.
 






























LabCorp buying Bostwick is gossip, Bostwick has too much debt as well as the OIG coming in. LabCorp will not do anything until Bostwick has a clean slate and shows clean profit. Caris is a different deal.
 


















The OIG will say reads in tech urovision are not within their guidlines so Bostwick will pay a large fine and have to submit to a yearly compliance program. If he does not follow the guidelines the lab could be shut down by the OIG. Once the OIG investigates Bostwicks tech deals the rest will follow once they open up the books and see client pricing below medicare pricing, write offs of co-pays and deducts. He is one of the big players now so there is big money to be made by the OIG when a fine is put in place.
 






Anonymous said:
The OIG will say reads in tech urovision are not within their guidlines so Bostwick will pay a large fine and have to submit to a yearly compliance program. If he does not follow the guidelines the lab could be shut down by the OIG. Once the OIG investigates Bostwicks tech deals the rest will follow once they open up the books and see client pricing below medicare pricing, write offs of co-pays and deducts. He is one of the big players now so there is big money to be made by the OIG when a fine is put in place.
Click to expand...

Not many consider Bostwick a big player.... Maybe 100m rev, and 60-70% from UroVysion.... 1 CPT code reduction for UV would put him back in the sub 50m where they belong.
 






You say he is over 100m, is that after you figure he is taking almost 50% of that for bad debt and his so called EMR donation program where he is running into money troubles with trying to get them paid as well as up and running. He can only delay the EMR start ups so long before he has to fold. He has some debt and notes due soon, this is where he will run into money issues. With the way the banks have been giving all of this free money lately, Bostwick will be hard pressed to get anytype of loan in the near future. His debt ratio is around 40%, no bank in the world is going to give him the approval not with the market now a days. He also want 10 times what his company is brings in so figure he want almost 1 billion when it is more like a 500-600 million dollar company.
If it is so great of a company why has he not been picked up by the big labs? maybe because they have looked into his financials and saw how much he is really worth.
 






Anonymous said:
You say he is over 100m, is that after you figure he is taking almost 50% of that for bad debt and his so called EMR donation program where he is running into money troubles with trying to get them paid as well as up and running. He can only delay the EMR start ups so long before he has to fold. He has some debt and notes due soon, this is where he will run into money issues. With the way the banks have been giving all of this free money lately, Bostwick will be hard pressed to get anytype of loan in the near future. His debt ratio is around 40%, no bank in the world is going to give him the approval not with the market now a days. He also want 10 times what his company is brings in so figure he want almost 1 billion when it is more like a 500-600 million dollar company.
If it is so great of a company why has he not been picked up by the big labs? maybe because they have looked into his financials and saw how much he is really worth.
Click to expand...

Bostwick has always entertained the idea of a sale but has always wanted way too much. I would say your $500-600 mil is too high. If 2-3 years sales is the typical benchmark, then its $300 mil tops. However, once other labs look at his financials, as you point out, that number drops significantly, or they simply run from Bostwick like vampires from a crucifix.
 












Anonymous said:
we are going to buy your stupid ass and fire everyone that left us, like the guy in florida. Fuck you
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What a tool.....

LCA purchases Bostwick and the world will get to see another train wreck purchase; making the Dianon deal look good.

LCA are a bunch of lab thugs that have a lot to learn about what a lab services really are.
 






Anonymous said:
Not many consider Bostwick a big player.... Maybe 100m rev, and 60-70% from UroVysion.... 1 CPT code reduction for UV would put him back in the sub 50m where they belong.
Click to expand...

Not 60-70% from Urovysion. 88305s routinely supplemented with bullshit stains is where the bulk of his revenue comes from. He'll fry for this one too.
 






why you when all we have to do is what you self destruct within yourselves and pay pennies on the dollar. You people are a frickin joke. Please come into my accounts and try to sell hema path. r*****s.
 


















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