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Specialty Laboratories Inc

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BUSINESS
May 22, 2002 | Bloomberg News
Specialty Laboratories Inc., a maker of laboratory tests, named Douglas Harrington as chief executive. Harrington, 48, had been interim CEO after James Peter resigned last month. Specialty is appealing a government decision last month to revoke its license, alleging that laboratory services had been performed by unlicensed staff. Harrington has served on the Specialty board since 1996. He also is chairman of medical device maker ChromaVision Medical Systems Inc.
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BUSINESS
July 4, 2002 | Bloomberg News
Specialty Laboratories Inc. said it will report a significant second-quarter loss because of job cuts and loss of revenue after federal regulators suspended its right to receive payments from Medicare or Medicaid. Regulators charge that the company's laboratory testing was conducted by unlicensed staff and have fined the company $3,000 a day since Feb. 22. The Santa Monica-based company said it will have $3.5 million to $3.8 million in second-quarter costs related to the job cuts.
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BUSINESS
July 4, 2002 | Bloomberg News
Specialty Laboratories Inc. said it will report a significant second-quarter loss because of job cuts and loss of revenue after federal regulators suspended its right to receive payments from Medicare or Medicaid. Regulators charge that the company's laboratory testing was conducted by unlicensed staff and have fined the company $3,000 a day since Feb. 22. The Santa Monica-based company said it will have $3.5 million to $3.8 million in second-quarter costs related to the job cuts.
BUSINESS
June 19, 2002 | Bloomberg News
Specialty Laboratories Inc., which conducts medical tests for laboratories and hospitals, said it is cutting 10% of its 800-member work force to reduce costs. Santa Monica-based Specialty Labs said it will have significant expenses in the second quarter related to the reduction. In April, Specialty Laboratories said the government threatened to suspend Medicare and Medicaid payments and revoke the company's license, alleging that laboratory-test services had been performed by unlicensed staff.
BUSINESS
June 19, 2002 | Bloomberg News
Specialty Laboratories Inc., which conducts medical tests for laboratories and hospitals, said it is cutting 10% of its 800-member work force to reduce costs. Santa Monica-based Specialty Labs said it will have significant expenses in the second quarter related to the reduction. In April, Specialty Laboratories said the government threatened to suspend Medicare and Medicaid payments and revoke the company's license, alleging that laboratory-test services had been performed by unlicensed staff.
BUSINESS
June 8, 2002 | Bloomberg News
Specialty Laboratories Inc. said President and Chief Operating Officer Paul Beyer resigned, less than two months after the company's chief executive quit. Shares of the Santa Monica-based company jumped 12%, or 79 cents, to $7.35 on the NYSE. In April, James Peter resigned as chief executive when federal regulators said they were suspending the company's right to Medicare and Medicaid payments, alleging that laboratory-test services had been performed by unlicensed staff.
BUSINESS
July 18, 2002 | Bloomberg News
Specialty Laboratories Inc. said the federal government had reinstated its right to bill Medicare and Medicaid as of June 19. Regulators charged earlier this year that the Santa Monica company's laboratory testing was conducted by unlicensed staff, and they suspended its ability to bill the government health insurance programs. The company also was fined $3,000 a day, starting Feb. 22.
BUSINESS
April 12, 2002 | From Bloomberg News
Specialty Laboratories Inc. shares dropped 35% after the developer of laboratory tests reported first-quarter profit well below analysts' expectations. The shares fell $6.25 to $11.75 on the New York Stock Exchange, after sinking as low as $10.25, a 52-week low. Specialty's shares, which began trading in December 2000, have lost 57% in the last year. First-quarter net income fell 41% to $1.99 million, or 9 cents a share, from $3.
BUSINESS
October 1, 2005 | David Colker, Times Staff Writer
A Florida medical company said Friday that it agreed to buy Specialty Laboratories Inc. in Valencia for about $328 million. AmeriPath Inc. Chief Executive Donald Steen said that Specialty Laboratories would help "expand our geographic presence" to the West Coast. Specialty Laboratories, which does clinical testing for doctors treating cancer, heart disease, diabetes and other conditions, was founded 30 years ago by former UCLA medical professor James Peter.
BUSINESS
January 9, 2000
Theodore Lavoie has joined eBuilt Inc. in Irvine as chief financial officer. Lavoie was previously senior vice president and chief financial officer of BigStore.com, an e-commerce retailer. He was also chief operating officer and chief financial officer of Lumenyte International, and vice president and chief financial officer of Wahlco Environmental Systems. * Ernest C. Cook Jr. has been named chief medical officer of Cogent Healthcare Inc. in Laguna Hills.
BUSINESS
May 22, 2002 | Bloomberg News
Specialty Laboratories Inc., a maker of laboratory tests, named Douglas Harrington as chief executive. Harrington, 48, had been interim CEO after James Peter resigned last month. Specialty is appealing a government decision last month to revoke its license, alleging that laboratory services had been performed by unlicensed staff. Harrington has served on the Specialty board since 1996. He also is chairman of medical device maker ChromaVision Medical Systems Inc.
BUSINESS
February 12, 2002 | BOB HOWARD, SPECIAL TO THE TIMES
Biotechnology pioneer Alfred Mann has acquired almost half of a 377-acre former Lockheed aerospace research facility at Rye Canyon in Valencia for a project called Mann Biomedical Park, boosting the Santa Clarita Valley's reputation as an emerging biotech center. The new biomedical park will be designed to accommodate other Mann companies in addition to one called Advanced Bionics that already occupies space at Rye Canyon, said John DelRusso, director of facilities for Advanced Bionics.
BUSINESS
June 7, 2001 | KAREN ROBINSON-JACOBS, TIMES STAFF WRITER
Wall Street staged a strong welcome for Unilab Corp.'s return to the public market, as investors bid up the Tarzana-based company's stock price by 44% on its first trading day Wednesday. The stock, priced at $16, closed at $23. Unilab, the dominant provider of laboratory-testing services to physicians, managed-care groups and hospitals in California, sold 6.7 million shares in its initial public offering, raising $107.2 million. The money will be used to help the company pay down debt.
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