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Q3 2024 Laboratory & Diagnostics Update

Provident Healthcare Partners
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Q3 2024 Laboratory & Diagnostics Update

The Laboratory & Diagnostics sector in Q3 2024 continued to navigate the regulatory uncertainty surrounding Laboratory Developed Tests (LDTs), with the ACLA’s lawsuit against the FDA remaining unresolved. This ongoing legal battle prompted major players to increase investment in compliance and regulatory affairs departments. M&A activity in the sector showed signs of recovery, with a modest increase in deal flow compared to Q2. National laboratories, such as Quest Diagnostics and LabCorp, maintained their strategy of acquiring small hospital laboratory assets to expand their geographic footprint. Additionally, the sector experienced growing interest in genetic testing and direct-to-consumer testing markets, driven by advancements in precision oncology and increasing demand for early diagnostic tests.

Overall, while challenges remain, the outlook for M&A in the Laboratory & Diagnostics sector appears cautiously optimistic for Q4 2024 and beyond, with expectations of increased deal flow and strategic consolidation by large players in the space.

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

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