Emergence of Strategic Alliances in US Clinical Laboratory Testing Market

NOIDA, India - Jan. 30, 2018 - PRLog -- The information and services related to the diagnosis and treatment of various diseases is provided by the clinical laboratories. Such laboratories help perform various type of tests which help in the detection of the abnormal cells that cause leukemia, analysis of cardiac enzyme activity released during a heart attack, identification of the type of bacteria causing an infection and detection of DNA markers for genetic diseases, amongst others.

As per RNCOS report titled, "US Clinical Laboratory Testing Market by Type of Test (Tumor, Clinical Chemistry, Microbiology, Esoteric), By Type of Lab (Hospital, Physician, Independent), & By Type of Diseases (Tuberculosis, Influenza, Cancer, HIV/AIDS etc.), Forecast to 2022", the current clinical laboratory business model in the US suffers from too much redundancy, fragmentation, and excess capacity. These models have disadvantages and are no longer required. The present situation highlights the need for much greater cost containment and increased competition. Therefore, laboratories should make an effort to cooperate and consolidate so as to enhance the efficiency and reduce the cost.

In order to achieve this goal, the clinical lab industry of the US has witnessed numerous consolidations in the last few years. Majority of these deals were made by Quest, LabCorp, Sonic and Solstas Lab Partners. Even though Merger & Acquisition activity and valuations reduced in 2009 due to recessionary impacts, large commercial labs continued to compete for highly-attractive strategic acquisitions in the succeeding years.

Moreover, this sector has also attracted private equity investors who have established or are seeking platform acquisitions. The Merger & Acquisition strategies with commercial labs focus on smaller, strategic acquisitions in high-growth esoteric testing segments. In the coming years, such strategic alliances will continue to happen, as LabCorp and Quest have shown a strong interest in acquisitions. These two clinical testing laboratories will face competition from Sonic, Bio-Reference, regional labs, and private equity investors.

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