Life Sciences Giants Face Growth and Challenges in Q3 2024 Earnings

Life Sciences Giants Face Growth and Challenges in Q3 2024 Earnings

On October 22, 2024, Quest Diagnostics and Danaher Corp. released their third-quarter earnings reports, offering a glimpse into the performance and challenges faced by these two major players in the Life Sciences market. Quest Diagnostics In Q3 2024, Quest Diagnostics reported revenues of $2.49 billion, an 8.5% increase compared to the prior year. While the adjusted earnings per share (EPS) of $2.30 beat analyst expectations of $2.26, the company’s operating income saw a slight decline of 3.3% compared to the same period last year. This mixed performance suggests that while Quest is successfully growing revenue through various initiatives, there are underlying challenges impacting... Read More »
Fullscript Buys San Francisco-Based Rupa Health

Fullscript Buys San Francisco-Based Rupa Health

Toronto, Canada-based Fullscript has announced the acquisition of Rupa Health, a San Francisco, California-based company that helps practitioners order, track and manage more than 3,000 laboratory tests in a single interface. Launched in 2020, Rupa Health’s platform modernizes the logistics of lab work by integrating test ordering, results management and patient communication for clinics across the United States. This makes it easier for healthcare providers to access a wide range of diagnostic tools and deliver more personalized care. Today, the company serves tens of thousands of clinics. Founded in 2011, Fullscript provides supplement delivery and virtual care tools for integrative... Read More »
Solis Mammography Enters Louisiana With Breast Center of Acadiana Acquisition

Solis Mammography Enters Louisiana With Breast Center of Acadiana Acquisition

Solis Mammography announced on October 9 its acquisition of Breast Center of Acadiana in South Louisiana. Founded in 2008, Breast Center of Acadiana provides patients with an advanced standard of care through two dedicated screening and diagnostic breast radiology imaging locations in Lafayette and Youngsville, Louisiana. Solis Mammography, a portfolio company of Chicago, Illinois-based private equity firm Madison Dearborn Partners since August 2018, is the largest independent provider of mammography and breast health services in the United States with more than 135 centers. The acquisition of Breast Center of Acadiana marks Solis Mammography’s first venture in the state of Louisiana and... Read More »
Fullscript Buys San Francisco-Based Rupa Health

Affinity Equity Partners Acquires Australian Diagnostic Imaging Provider for $658 Million

Hong Kong-based Affinity Equity Partners announced that it is acquiring radiology services provider Lumus Imaging from St Leonards, Australia-based healthcare company Healius Limited for A$965 million (approximately $658 million USD). Lumus Imaging is a Sydney, Australia-based diagnostic imaging company. It is made up of a team of radiographers, sonographers, nuclear medicine technologists and nurses. It has more than 2,000 diagnostic imaging experts and support staff across 135 sites across Australia. Affinity Equity Partners is one of the largest Asian private equity firms in the world, with more than $14 billion in assets under management. It was founded in 1998. Healius expects to net... Read More »
Ballad Health Sells Laboratory Assets to Labcorp

Ballad Health Sells Laboratory Assets to Labcorp

Ballad Health announced that it is selling select operating assets of its outreach laboratory services to Labcorp. Ballad Health is a chain of hospitals headquartered in Johnson City, Tennessee. It was founded in 2018. LabCorp, an S&P 500 company, is a global life sciences company that is integrated with guiding patient care, providing clinical laboratory and end-to-end drug development services. The company provides information to help doctors, hospitals, pharmaceutical companies, researchers and patients make decisions. LabCorp has more than 80,000 employees across more than 100 countries and had reported annual revenue of $12.16 billion in 2023, according to the company’s 2023... Read More »
Life Sciences Giants Face Growth and Challenges in Q3 2024 Earnings

VION Biosciences Acquires Second Company in August 2024

VION Biosciences announced on August 29 its second transaction of the month with the acquisition of Texas-based Ansh Labs. Earlier in the month, VION acquired Echelon Biosciences, a Salt Lake City-based company that specializes in producing high-quality reagents and assays for the life sciences research community. The Ansh acquisition alongside the Echelon Biosciences acquisition, as well as the August 2023 acquisition of Aldon Corporation brings VION’s employee roster to nearly 100 employees. Ansh Labs is a Texas-based company that focuses on the development, production and distribution of high-quality immunoassay kits and reagents for research and clinical diagnostics. The... Read More »