CENTRAL COAST: Tri-Counties Blood Bank May Be Sold
Tri-Counties Blood Bank, which supplies "blood to Central Coast hospitals, could be put on the block for the second time in a year," the San Luis Obispo Telegram-Tribune reports. The "47-year-old nonprofit blood bank," which supplies Monterey, Santa Barbara and San Luis Obispo counties, went for-profit last summer when it was purchased by Massachusetts-based Haemonetics Corp. Lisa Lopez, a spokesperson for Haemonetics, said the company's board is expected to recommend the sale at its meeting today. In a statement, Haemonetics President and CEO Jim Peterson said, "We do not believe our Blood Bank Management Service business will achieve the profitability necessary to meet Haemonetics' requirements." Tri-Counties posted a $33 million profit last year, but is expected to have made only half as much in the year ending March 28, 1998. Lopez noted that the blood bank industry has become increasingly competitive and that blood banks need to consolidate in order to survive. The American Red Cross and United Blood Services are reportedly among the parties interested in Tri-Counties (Hurly, 4/30).This is part of the California Healthline Daily Edition, a summary of health policy coverage from major news organizations. Sign up for an email subscription.