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PAML Invests in CellNetix, a Provider of Esoteric AP Services

Posted May 07 2013 12:00am

PAML has invested in CellNetix , an esoteric anatomic pathology esoteric lab (see: Esoteric Anatomic Pathology Testing Is Goal of New Pact between PAML and CellNetix ). Here are more details from this note in the Dark Daily:

[The] agreement calls for both parties to collaborate in offering esoteric and reference anatomic pathology services nationally. It is an effort to align their clinical laboratory and anatomic pathology services to the evolving needs of hospitals, physicians and other providers....The two companies ...stated that they entered into an agreement to work together to form a “jointly owned national Esoteric Anatomic Pathology reference laboratory offering." For anatomic pathologists across the nation, this new agreement is notable. Independent pathology laboratory companies and private pathology group practices are dealing with a series of serious hammer blows to reimbursement for key anatomic pathology procedures that have happened over the past 18 months. Facing significant declines to important sources of revenue, these pathology organizations are looking for effective business strategies they can use to sustain financial viability. As a response to the deterioration in reimbursement for anatomic pathology testing services, many experts predict that there will be a wave of acquisitions, mergers, and consolidation among anatomic pathology organizations. 

Here is a description of the services offered by CellNetix copied from the company  web site :

CellNetix is the largest and most comprehensive AP provider in the Pacific NW. Services include cytology, histology, fine needle aspiration (FNA) services, flow cytometry, immunohistochemistry, immunofluorescence, UroVysion, and molecular diagnostics. In our subspecialized case allocation process, cases arrive in the pathology laboratory and staff allocate these by subspecialty; breast cases to breast pathologists, gastroenterology (GI) cases to GI pathologists, genitourinary cases (GU) cases to GU pathologists...

PAML is owned by two health care systems: Providence Health & Services and Catholic Health Initiatives. CellNetix is a privately held laboratory that provides clinical and anatomic pathology services in Washington, Idaho, Oregon and Alaska (see:  CellNetix to partner with Spokane's PAML laboratory ).

Robert Michel of the Dark Daily is right on target with his observation: As a response to the deterioration in reimbursement for anatomic pathology testing services, many experts predict that there will be a wave of acquisitions, mergers, and consolidation among anatomic pathology organizations. It's logical for surgical pathology reference labs to seek to improve their bottom lines by acquiring labs performing tests such as flow cytometry, immunohistochemistry, immunofluorescence, and molecular diagnostics.

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