Calif. blood lab joins Aetna network

A California firm will provide blood-related laboratory and diagnostic services to Aetna Inc.'s nationwide provider network, the two companies announced.

Genoptix Inc., of Carlsbad, Calif., signed a three-year pact with Aetna, effective April 1. Terms were not disclosed.

Genoptix specializes in identifying and analyzing patients with cancers of the blood and bone, such as leukemia and lymphoma.

Aetna's provider network serves 19 million members.

Meanwhile, Genoptix said its fourth-quarter profit rose 38 percent as demand for its diagnostic services increased.

The company said its profit grew to $7.4 million, or 41 cents per share, from $5.4 million, or 30 cents per share, a year earlier. Revenue climbed 45 percent to $49.1 million from $34 million. According to Thomson Reuters, analysts expected a smaller profit of 35 cents per share and revenue of $48.8 million.

The company said its profit fell 2 percent in 2009, to $30.6 million, or $1.71 per share, from $31.4 million, or $1.78 per share. Its revenue grew 59 percent to $184.4 million from $116.2 million.

Genoptix's profit in 2008 was boosted by an income tax benefit.

In 2010, the company said it expects to earn between $1.80 to $1.85 per share. It raised its revenue estimate to a range of $235 million to $240 million. Previously it called for $235 million in revenue.

Analysts are projected a profit of $1.90 per share and $238.1 million in revenue. (AP)