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Q1-2022 Laboratory & Diagnostic Services Update

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Q1-2022 Laboratory & Diagnostic Services Update

Deal volume in the laboratory and diagnostic services sectors started off to a quick pace as several transactions originated in 2021 slipped into 2022. The prevalence of strategic add-on acquisitions continued as private equity and strategic consolidators further capitalize on a growing end-user market.

At the outset of 2022, COVID-19 testing centers nationwide struggled to meet the Omicron variant induced demand for accurate at home testing kits. As a result, investors and strategic consolidators alike looked to enhance point-of-care delivery models and buy-in on the emerging at home testing modality. Evidencing this trend, Sorrento Therapeutics acquired Virex Health, a developer of a novel at-home COVID-19 testing option. The acquisition expands Sorrento’s testing portfolio to include affordable and easy-to-use testing options with a variety of end markets.

Looking ahead, Provident anticipates deal flow to remain high as large players continue to acquire smaller companies with a novel offering to broaden their network and expand service capabilities. Smaller companies will continue to see benefit from increased capital and access to technological advancements.

To print and download the full Laboratory & Diagnostic Services Update report, please click below…

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Sources: SEC Filings; Company Press Releases, and Reports; IBISWorld; Capital IQ; PHP Estimates and Research. This document has been compiled with publicly available information. Provident Healthcare Partners, LLC makes no guarantee of its accuracy or completeness. No data or statement should be construed to be a recommendation for the purchase, sale, or retention of any security.