Beckman Coulter Inc., the Fullerton maker of medical diagnostic equipment and supplies, got a positive review by a Lazard Capital Markets analyst for its blood analyzer and its effort at a major tradeshow.
Beckman and its competitors were among more than 600 exhibiting companies that attended the American Association of Clinical Chemistry’s annual conference in Washington, D.C., late last month. The conference is considered the largest clinical laboratory exposition with some 20,000 attendees.
“Our consultant commented that Beckman Coulter’s booth was well received by those in attendance,” said Jeffrey Frelick, Lazard’s diagnostic device industry analyst, in a research note.
Beckman’s booth, Frelick said, was well-organized and crowded with both customers and product demonstrations.
But perhaps more importantly, Frelick mentioned that it displayed “meaningful new products,” including Beckman’s DxH hematology analyzer, which is used for blood tests and to diagnose blood diseases. He praised the device’s design and accuracy, in particular.
Frelick also discussed merger and acquisition possibilities, although he had cautioned that buzz on a deal would be at a lesser pace than previous years in a report prior to the conference.
Roche Holding Ltd., a Swiss company, and Germany’s Siemens AG dominate the market due to their sheer size, but Frelick said opportunities for a buy out might not be found with the two major players.
He said second-tier companies could look at Beckman Coulter as a way to organize and consolidate operations or to expand into a different business.
“Any consolidation will really be focused on companies that are outside the top two companies,” Frelick said.
In a report written prior to the conference, Frelick praised the industry, saying it “has weathered many storms.”
As the industry has endured pricing pressures and lagging reimbursement rates, Frelick pointed out that it’s still only accounted for 2% of Medicare costs and less than 5% of hospital costs. He mentioned that new diagnostic technologies and automated instruments have permitted hospital laboratories to address labor shortage challenges while increasing productivity.
Hoag Gets $2.3M
Hoag Memorial Hospital Presbyterian in Newport Beach has received a $2.3 million gift from the Robert S. and Georgia L. Roth Family Foundation to endow a chair position in its Heart and Vascular Institute.
Dipti Itchhaporia, a cardiologist who’s been on Hoag’s medical staff since 1996, was named to the Roth chair position. Itchhaporia also is serving as medical director of disease management at the center. Besides her work at Hoag, Itchhaporia also is a member of the American Heart Association’s Western affiliate’s board and is the president of the California state chapter of the American College of Cardiology.
The Roths established the foundation after Robert Roth’s heart transplant earlier this year. The gift to Hoag is the foundation’s first major gift.
Nonsimulated Support
LifeModeler Inc., a San Clemente-based company that makes human simulation software, said it received $2 million in funding from undisclosed private sources.
LifeModeler, formerly known as Biomechanics Research Group Inc., sells its products to orthopedic and prosthetic device makers and government clients. The company says its software simulates the human body in a realistic manner, down to muscles, nerve endings and capillaries and allows orthopedic companies to test knee replacements without using either cadavers or humans.
Per LifeModeler’s Web site, its orthopedic clients include Medtronic Inc., Johnson & Johnson’s professional knee and hip divisions and Biomet Inc. The company’s site also mentions Foothill Ranch-based Oakley Inc., Nike Sports Research Laboratory, the U.S. Navy and Army among its clients in other fields.
Bits and Pieces:
Michael Engelhard is the new chief financial officer at CalOptima, the Orange agency that’s charged with administering Medi-Cal programs in the county. Engelhard most recently was vice president and regional finance officer for Health Net Inc. The University of California, Irvine, received a “centers of excellence” designation by the Cornelia de Lange Syndrome Foundation for its research and clinical work relating to the disease, which occurs in one of every 10,000 births and can cause low birth weight, slow growth and impair mental development, among other symptoms. Separately, the hospital said it made U.S. News & World Report’s “best hospitals” list for the eighth consecutive year.
