LTS Health announces agreement to acquire Italian diagnostics technology provider Gene.Sys
LTS Health, a leading provider of performance improvement products and services to the global diagnostics industry, today announced that it has entered into a definitive agreement to acquire Gene.Sys, an innovative leader in laboratory test cost calculation, process analysis and benchmarking. Financial terms were not disclosed.
The acquisition agreement takes place in LTS Health’s 20th year in operations and will combine the company’s expertise in process simulation, process improvement and laboratory performance with an in-depth understanding and enhanced capability for managing the performance and costs in their laboratories. Over the last 15 years, Gene.Sys has developed a proprietary solution to support laboratories with the detailed calculation of costs per test and benchmarking of costs based on detailed analysis of processes.
Francisco Munoz, CEO of LTS Health Italy, said, “LTS Health helps laboratories in more than 40 countries to move the world forward. Our core technology products – PinpointBPS® and ILYTIXTM – will be greatly complemented by Gene.Sys’ offering, allowing us to provide an unsurpassed performance improvement offering that helps laboratories to reduce cost, improve turnaround time and ultimately impact quality results.”
Gene.Sys currently serves customers in Italy and the United Kingdom. The acquisition also provides a means for LTS Health to have closer ties to the diagnostics industry in Italy and greater Europe. "As part of LTS Health we will be able to collectively enhance the current process and benchmarking offering to the global diagnostics industry, allowing them to gain unsurpassed insight into laboratory performance and the means to improve. It’s a really exciting proposition.”
Gene.sys currently serves customers in Italy and the UK and the partnership allows the Florence based firm to provide LTS’ consulting, technology and learning services into the Italian market. LTS is also uniquely positioned to offer the following leading products alongside its offering to its global client base:
- e-Valuate: a complete service of data collection, analysis and reports about the efficiency of internal processes of diagnostic services.
- Benchmarking service: a yearly evaluation of the position of the customer for the same indicators, compared with the other similar services.
- Scenario analysis: a consulting service for local or wide area reorganization projects, with specific tools and evidence-based assumptions to drive tailored consulting solutions.
- Smart e-Valuate projects: a “lite” version of e-Valuate, which can quickly and easily provide a check-up of the diagnostic service.
LTS Health and Gene.Sys have already joined forces to offer each other’s products and services with clients in the UK and Europe, with further expansion expected. The transaction is subject to customary closing conditions and receipt of required regulatory approvals.
For more information on how laboratories will reap the benefit from test cost benchmarking and process improvements, contact Francisco Munoz at firstname.lastname@example.org, or Giovanni Barletta at email@example.com.