Path Inc sells out to LabCorp

[WEBB PINKERTON]

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Deal been rumored for a long time. Looks like it finally happened.

http://www.bizjournals.com/triad/news/2015/12/10/labcorp-buys-pathology-inc.html

http://www.pathologyinc.com/

 

[AZpath]

The stand to only get bigger and bigger. They can give away pathology to get better margin clinical lab work.
Insurance companies favor Labcorp and Quest.
In our state no one does paps except the big boy.

I don't like to sound like chicken little but tighten the noose every day.

 

[caffeinegirl]

According to the linked article, Path inc will shut down/cease operations in the first quarter of 2016. What will happen to the employees and pathologists????

 

[WEBB PINKERTON]

Some will likely head to other labcorp locations-Monrovia or San Diego I guess. Others will be unemployed.

Labcorp bought up 3 labs in my territory (including one I once called home), closed all three and routed the specimens to a lab in another state. It was a bloodbath and flooded the market even worse around here.

 

[coroner]

I'm sure the shareholders at the top were cut a nice check, so I have no sympathy for them. As for the underlings, that may be a different story...I know of a similar pathologist-owned lab (different region) that sold out to AmeriPath and they all got a huge payday. Afterwards, they worked as employees for awhile before AmeriPath shut down that lab altogether. But it was no skin off their back, because the group already covered a couple of hospitals before starting up the reference lab. The moral of the story is to have safety nets in place because you never know when something unexpected like this can happen. Expand, network, save money, and find other income streams. Do what you can to protect yourself and family's future.

 

[Torsed]

Soon there will be only two big labs.
The turkeys are getting fatter.