Growth for Bio-Reference Laboratories

Bio-Reference Laboratories grew their second-quarter revenue by almost 19 percent, reports the Associated Press. The company announced $163.4 million in sales for that quarter, up from $137.7 million in 2011. "During the first six months of this fiscal year, we introduced several initiatives based on innovative technologies and innovative reporting techniques that we believe will enable us to continue our growth. OnkoMatch, Inherigen, and GenCerv are now being introduced to physicians around the country by our national sales force," said CEO Marc Grodman in a statement. He added, "For many years, our growth was driven by our expansion in the esoteric markets; which in turn creates greater opportunities for growth in all of our clinical offerings. We continue to be paced by esoteric growth, but we have also been able to expand routine clinical testing into those same physician offices and have been able to achieve a more stable position in the physicians' offices."