Dade Behring's Recap Plans
Executive Summary
For more than a year, Dade Behring has been wading through a financial morass that is likely to lead to bankruptcy, a sale of assets, or a reorganization of capital structure. As concerns mount about its long-term prospects, Dade Behring and its lenders are seeking to restructure the company's burdensome long-term debt. While stubborn lenders have been unwilling to accept less than a near-to-full return on their investment, several events this spring seem to be motivating them to be more flexible.
You may also be interested in...
Dade's Integration Expertise
Laboratory automation offered by large diagnostic companies has been slow to gain customer acceptance. One bright spot has been Dade Behring Inc.'s Dimension product line, which has found in recent years a loyal following. The Dimension RxL offers the first chemistry analyzer that has the option of also running a number of common heterogeneous immunoassay tests. It has been a huge success, giving Dade a 92% market share of the 32% of laboratories that have systems integrating clinical chemistry and immunoassays, helping labs save labor, time and money. Dimension is the product line most responsible for Dade's comeback from bankruptcy two years ago.
Dade's Integration Expertise
Laboratory automation offered by large diagnostic companies has been slow to gain customer acceptance. One bright spot has been Dade Behring Inc.'s Dimension product line, which has found in recent years a loyal following. The Dimension RxL offers the first chemistry analyzer that has the option of also running a number of common heterogeneous immunoassay tests. It has been a huge success, giving Dade a 92% market share of the 32% of laboratories that have systems integrating clinical chemistry and immunoassays, helping labs save labor, time and money. Dimension is the product line most responsible for Dade's comeback from bankruptcy two years ago.
Robust Times for Diagnostic Companies
The diagnostic industry's buoyant health was evident at this year's American Association for Clinical Chemistry meeting in Los Angeles. Floor space was sold out and attendance hit a record. In contrast to a malaise in the industry through much of the 1990s, diagnostics now have reimbursement, demographic, and labor shortage trends in their favor. At $24.9 billion in revenues, experts say the industry is poised to deliver another year of double-digit growth, following an 11% gain in 2003.