Central Laboratory reports severe drop in turnover of profits after Covid-19 pandemic

In 2023, Central Laboratory LLC operated with turnover of EUR 33.51 million, which is 50% less when compared to 2022. The company’s profits went down significantly – to EUR 4.316 million, according to information from Firmas.lv.

As LETA was told by the company, the Central Laboratory had 95 branch offices in 2023, including the ten that opened that year. Investments were performed into analytical technologies and process automation, as well as purchase of new equipment and refurbishing of analysers.

Representatives of the Central Laboratory say that in 2023 the company operated under conditions when there were wide discussions performed with state institutions and the government how the financing provided by the state was used up more quickly than expected and how excessive workload surfaced, because in the period after Covid-19 pandemic there was surge in demand for healthcare and, consequently, for laboratory services.

According to the company, the state still has not paid for the laboratory’s overtime of 2022. The company explains that after the state significantly lowered laboratory tariffs on the 1st of June 2024, the Central Laboratory raised blood sample and laboratory fees on the 6th of June 2024. Patients now have to cover the costs from their pockets because of the decision from the state.

Forecasting the results of 2024, the representatives of the Central Laboratory mention an increase in the number of patients who regularly check their health, as well as patients with exacerbations of various chronic diseases, which could lead to an increase in the number and types of necessary examinations, as well as the projected increase in the number of patients can be justified in the trends of demographic indicators of the population.

In 2024, the Central Laboratory will continue investing into refurbishment of laboratory rooms, new testing methods and automation of laboratory processes. It is also planned to open several new branch offices. It was also possible to add NMS Laboratorija LLC to its roster in 2024.

Representatives of the Central Laboratory say that the company will continue raising its efficiency, digitising processes, reducing the costs of logistical operations, as well as improving service accessibility.

In 2022, Central Laboratory operated with turnover of EUR 66.83 million and profits of EUR 26.888 million, according to information from Firmas.lv.