7 Laboratory Test Business Success Stories [2023]

Updated: November 19th, 2023
Start A Laboratory Test Business

One of the most profitable niches in the healthcare sector is the laboratory test business. Lab tests are critical to medical care as they give patients and doctors detailed, objective health data. Doctors may request patients' bloodwork, urine tests, and specialized tests to diagnose rare conditions.

Medical labs provide clinical laboratory tests for hospitals, private outpatients, and ambulatory care center patients.

Given the critical role laboratory tests play in healthcare and the demand these services attract, starting a laboratory test business can be profitable. If you plan to start a medical lab business may specialize in a particular niche or offer a wide range of laboratory tests. Understand the regulations in your region and acquire the necessary certifications.

Here are some real life success stories of starting a laboratory test business:

1. Bloom Diagnostics ($240K/year)

Angelica Kohlmann, an investor in tech and biotech companies, noticed the gap between healthcare and technology, as well as healthcare and people. Recognizing the need to bring healthcare closer to individuals through new technologies, she co-founded Bloom Diagnostics. The company developed a system that allows people to measure and track blood markers from home, providing instant personal feedback and recommendations. Within the first month of launching, they were able to win 8 pharmacies in and around Vienna. With a focus on long-term development and fundamental changes in healthcare, Bloom Diagnostics is poised to disrupt the industry.

How much they make: $240K/year
How much did it cost to start: $30M
Current team size: 70

article

We Raised $21M, Built A Home Blood Testing Device & Took It To Market

Bloom Diagnostics is a healthcare startup that developed a system allowing people to measure and track blood markers from home, and within the first month it won 8 pharmacies in and around Vienna, having raised $21 million to develop the product.

About
Angelica started Bloom Diagnostics over 5 years ago
Revenue
Angelica grew the business to $20K/month
Costs
It cost Angelica $30000000 to start the business

So... can you actually make money with a laboratory test business?

Of course. There are millions to be made in this industry.

But how?

  1. Research real, profitable businesses and see exactly how much money they make.
  2. Study exactly what works, and what doesnโ€™t.
  3. Take action, because now you have the roadmap.

Join Starter Story and build your next big thing:

Start Now

4. LabCorp

LabCorp and its subsidiaries are in the business of improving health.

  • Website traffic: 8.18M/month
  • Business rank: #6.91K

Check out their full website โžœ

5. LifeLabs

  • Website traffic: 4.1M/month
  • Business rank: #35.3K

Check out their full website โžœ

So... can you actually make money with a laboratory test business?

Of course. There are millions to be made in this industry.

But how?

  1. Research real, profitable businesses and see exactly how much money they make.
  2. Study exactly what works, and what doesnโ€™t.
  3. Take action, because now you have the roadmap.

Join Starter Story and build your next big thing:

Start Now

7. Natera

Nateraยฎ offers highly accurate solutions for noninvasive prenatal testing (NIPT), genetic-carrier screening, (PGD/PGS), and miscarriage testing.

  • Website traffic: 500K/month
  • Business rank: #67.5K

Check out their full website โžœ