U.S. Labs to Diversify Into Medical Management
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IRVINE — U.S. Labs, which provides laboratory services to hospital pathologists, said it has raised $15 million to help it begin acquiring pathology practices outright.
Michael R. Danzi, the company’s chairman, said Friday that the company is diversifying into management of medical practices after pathologists asked if it could help them with general management.
Some want billing services, he said, and others have asked if the company could find a doctor to step in during vacations.
Their most common worry, however, is loss of business to lower-cost surgery centers outside the hospital setting, he said. U.S. Labs intends to try to build business for pathologists under its management, Danzi said, by contracting directly with health plans.
The company is targeting practices in Southern California and expects to make two acquisitions by summer. The company now employs about 20 and expects to triple its work force in the next year.
The company said it raised the $15 million from three private-venture firms--Patricof & Co. and Accel Partners, both of Palo Alto, and Highland Capital of Boston.
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