IDEXX Laboratories
IDEXX Laboratories is the dominant provider of veterinary diagnostic products and services, controlling approximately 50% of the overall veterinary diagnostics market and the leading share of the US point-of-care diagnostics market. The company manufactures in-clinic analyzers, single-use rapid test kits, and operates reference laboratories, serving as critical infrastructure for virtually every veterinary practice in the United States.
Score generated by AI agents based on publicly cited evidence and reviewed by the project maintainer. Not independently validated. Last assessed 2026-09-27. Score revised 2026-09-27: 56 → 49.
Score History
Timeline events are AI-curated from public reporting. Score trajectory is derived from documented events.
IDEXX went public on NASDAQ in June 1991 and built its in-clinic model on the VetTest chemistry line it acquired in 1992 and on single-use SNAP tests. From 1996 it began buying regional reference laboratories and, in 1997, practice-management software makers, and it paid $5.5 million to settle a heartworm patent suit. Proprietary consumables created some lock-in, but rivals still reached vets through distributors.
Jonathan Ayers succeeded founder David Shaw as CEO in January 2002 and grew IDEXX through acquisitions, adding reference laboratories in Kentucky and Ohio and opening one in Atlanta in 2003-04. Its national lab network and installed base of in-clinic analyzers expanded, but no exclusionary contract practices are documented for this period.
From at least 2006 IDEXX kept all five leading veterinary distributors exclusive under an all-or-nothing policy, and the FTC later found its point-of-care share stayed at 70% or more through 2011 while rivals were shut out of the main sales channel. The 2008 Catalyst Dx launch and price increases on combination tests helped revenue pass $1 billion that year. The era ended with the FTC's December 2012 settlement and February 2013 final order.
The FTC's final order barred concurrent exclusive deals with the three national distributors for ten years. IDEXX built a direct sales force, dropped U.S. distributors from January 2015, and signed practices to six-year exclusive contracts with annual purchase minimums and disloyalty penalties. Buybacks rose sharply from 2013, while the 2015 SDMA kidney test, added to lab panels at no extra cost, showed real innovation. IDEXX also sued a rival over recruiting its staff (2018) and a clinic's seller over a broken lab contract (2019).
Jay Mazelsky became permanent CEO in October 2019, and IDEXX deepened its bundle of instruments, reference labs and software, adding ezyVet in 2021 and CoVet's AI scribe in 2026, under IDEXX 360 commitments with confidential pricing and accelerated minimums on breach. Legal pressure came and went: the pet owners' antitrust suit was narrowed and then dropped in April 2025, and IDEXX paid about $80 million after losing a royalty case to the University of Texas. Buybacks reached $1.2 billion in 2025 as margins widened, while new tests such as Cancer Dx were priced low. Mike Erickson succeeded Mazelsky as CEO in May 2026.
Alternatives
IDEXX's main rival in point-of-care veterinary diagnostics, with analyzers, rapid tests and reference labs from a separate company. As a pet owner you cannot choose directly, but you can ask your vet whether they are tied to IDEXX or use Zoetis, Mars-owned Antech (which now includes Heska), or an independent reference lab. Hard switch: your vet would need to change equipment and supplier agreements, but it is worth asking.
Veterinary practices that are not part of corporate chains (Banfield, BluePearl, VCA, Thrive) are more likely to choose their own diagnostics suppliers or use regional labs, and are less bound by corporate diagnostic protocols. The Independent Veterinary Practitioners Association's VetLocal directory lists locally owned practices, or ask a practice directly whether it is under a multiyear IDEXX 360 commitment. Moderate switch: finding a good independent vet takes effort.
Dimensional Breakdown
Summaries below were written by AI agents based on the cited evidence. They are editorial interpretations, not independent research findings.
Dimension History
Timeline (42 events)
IDEXX Goes Public on NASDAQ
IDEXX Laboratories completed its initial public offering on the NASDAQ exchange under ticker IDXX. The IPO provided capital that enabled IDEXX to accelerate its focus on the companion animal diagnostics market and fund an aggressive acquisition strategy through the 1990s.
IDEXX Acquires VetTest Chemistry Analyzer Line
Under an asset purchase agreement dated January 15, 1992, IDEXX acquired the blood biochemistry (VetTest) product line of VetTest S.A. The VetTest analyzer let veterinary practices run blood chemistry panels on-site rather than sending samples to outside laboratories, and it became the anchor of IDEXX's model of placing in-clinic instruments that run on proprietary consumables.
SNAP Rapid Tests Become a Point-of-Care Standard
By the mid-1990s IDEXX's SNAP single-use in-clinic ELISA tests (heartworm, feline leukemia and others) were a core product line; IDEXX's 2020 SNAP white paper says veterinarians have relied on SNAP tests for more than 25 years and that more than 20 million SNAP tests are run each year. Each SNAP test is a single-use proprietary consumable, making the platform a central recurring-revenue stream in IDEXX's instruments-and-consumables model.
IDEXX Accelerates Reference Laboratory Acquisitions
During 1996-1997, IDEXX acquired multiple veterinary reference laboratories including Vetlab Inc. (Texas), Grange Laboratories (UK), Veterinary Services Inc. (Colorado, Illinois, Oklahoma), and Consolidated Veterinary Diagnostics. These acquisitions built IDEXX's national reference lab network and began consolidating what had been a fragmented regional laboratory market.
IDEXX Settles Heartworm Patent Dispute for $5.5 Million
Barnes-Jewish Hospital of St. Louis sued IDEXX in May 1995, claiming its canine heartworm diagnostic products infringed a hospital patent. IDEXX contended the patent was invalid but settled out of court in September 1997, paying the hospital $5.5 million; while the suit was pending IDEXX spent heavily developing replacement products. The settlement contributed to a third-quarter 1997 loss.
Practice Management Software Acquisitions Begin
IDEXX acquired National Information Systems Corporation and Professionals' Software Inc. in 1997, entering the practice management software market. These acquisitions laid the groundwork for IDEXX's later Cornerstone software platform and the strategy of bundling diagnostics hardware with practice management tools to deepen ecosystem lock-in.
Jonathan Ayers Becomes CEO, Launches Growth Strategy
Jonathan Ayers succeeded founder David Shaw (who retired as chairman and CEO in January 2002) and served as IDEXX's chairman and CEO from 2002 through 2019. During his tenure annual revenues grew from $380 million to $2.4 billion. Ayers's tenure also covered the 2006-2011 period in which IDEXX's exclusive distributor agreements drew FTC charges.
IDEXX Acquires Regional Reference Labs Across US
IDEXX acquired reference laboratories in Kentucky (Q3 2003), opened a new laboratory in Atlanta (Q4 2003), and acquired a laboratory in Columbus, Ohio (Q1 2004), continuing its systematic consolidation of the fragmented regional laboratory market. These acquisitions expanded IDEXX's national lab network and reduced the number of independent alternatives available to veterinary practices.
IDEXX Locks All Five Major Distributors into Exclusive Deals
Through at least 2006-2011, IDEXX held exclusive distribution arrangements with all five leading veterinary product distributors, including the three national distributors Butler Schein, MWI Veterinary Supply and Webster Veterinary Supply. The arrangements barred distributors from carrying competitors' point-of-care diagnostic products under an 'all-or-nothing' policy. The FTC charged that this foreclosed rivals from distributors selling more than 85% of the products veterinarians buy through distribution.
Catalyst Dx Analyzer Deepens In-Clinic Ecosystem
IDEXX launched the Catalyst Dx chemistry analyzer in the first quarter of 2008 as its next-generation replacement for the VetTest. Like the VetTest it runs dry-chemistry slides supplied for IDEXX, and it expanded the in-clinic test menu (including electrolytes), increasing the volume of proprietary consumables practices buy from IDEXX.
IDEXX Revenue Crosses $1 Billion as Unit Prices Rise
IDEXX's annual revenue passed $1 billion for the first time in 2008 ($1.024 billion, up from $922.6 million in 2007). Its 10-K attributed consumables and rapid-assay growth partly to higher average unit sales prices, including price increases on canine and feline combination tests. IDEXX then held a 70%+ share of point-of-care diagnostics while its exclusive distributor arrangements kept rivals out of the main sales channel.
IDEXX DVMax Acquisition Consolidates Practice Management Software
In December 2012 IDEXX acquired the assets of Sneakers Software, maker of the DVMAX practice management system, adding it to a software portfolio led by Cornerstone. IDEXX said DVMAX would be integrated with its diagnostic offerings, tying practice management software more closely to IDEXX diagnostics.
FTC Settles Antitrust Charges Against IDEXX
The Federal Trade Commission reached a settlement with IDEXX resolving charges that the company used exclusive distribution agreements with all five leading veterinary product distributors to stifle competition in point-of-care diagnostics. IDEXX held at least 70% market share from 2006-2011. The 10-year consent order prohibited IDEXX from maintaining concurrent exclusive deals with the three national distributors.
FTC Approves Final Consent Order Against IDEXX
The FTC approved the final order settling charges that IDEXX acted anticompetitively through exclusive dealing with all three national distributors and two large regional distributors. The order bars IDEXX for ten years from concurrent exclusive distribution arrangements with all three national distributors, prohibits retaliation against non-exclusive distributors, and requires future non-exclusive agreements with those distributors to begin with a two-year term followed by renewal terms of at least one year.
IDEXX Board Triples Share Buyback Authorization
IDEXX's board of directors authorized the repurchase of 4 million additional shares, nearly tripling the remaining authorization from 2.2 million shares. The expanded buyback program signaled the beginning of a sustained strategy to convert monopoly-derived profits into shareholder returns through share count reduction rather than reinvestment to lower diagnostic costs for practices or pet owners.
IDEXX Begins Six-Year Exclusive Contracts with Individual Practices
After the FTC order, IDEXX 'upended its entire distribution network' and began contracting directly with veterinary practices, according to the later class action. The six-year exclusive agreements carry purchasing requirements of $20,000 to $95,000 per year and steeper 'disloyalty' penalties, which the suit said can reach $500,000, and are lengthened through automatic renewals well before expiration.
IDEXX Announces Switch to All-Direct U.S. Sales
After the FTC order, IDEXX introduced a customer-centric direct sales model in 2013, and in mid-2014 announced it would drop its U.S. distributor partners and sell all products directly to customers beginning January 1, 2015. IDEXX said the change would allow an estimated 40% increase in veterinary diagnostic consultant field sales roles and a 60% increase in customer field call frequency.
IDEXX Announces Two-for-One Stock Split and Buyback Expansion
IDEXX announced a two-for-one stock split and increased its share repurchase program authorization, signaling confidence in its growth trajectory and commitment to returning capital to shareholders. The buyback expansion marked the beginning of an accelerating pattern of shareholder returns enabled by the company's monopoly pricing power.
SDMA Kidney Test Launch Demonstrates Real Clinical Innovation
IDEXX launched the SDMA kidney function test on July 13, 2015, a biomarker that identifies kidney disease in cats and dogs months or even years earlier than traditional methods. SDMA was automatically included in routine IDEXX Reference Laboratories chemistry panels at no additional cost, and more than 8,000 clinics submitted over 100,000 specimens in the first 10 days.
IDEXX Sues Competitor Over Trade Secrets and Non-Competes
IDEXX filed suit against Vets First Choice (later Covetrus) and two former employees, alleging misappropriation of trade secrets and violation of non-compete agreements. The lawsuit alleged an 'aggressive' campaign by the competitor to recruit IDEXX workers and that employees had copied confidential planning documents. The case settled in April 2019 with voluntary dismissal, but highlighted IDEXX's aggressive use of non-compete clauses to restrict employee mobility and protect market position.
IDEXX Sues Clinic Seller After VCA Switches Lab Work to Antech
IDEXX Distribution sued Chatsworth Veterinary Center Inc. in federal court in Maine on March 6, 2019. The company had signed a six-year contract (April 2016-March 2022) to use IDEXX for at least 90% of its laboratory work and spend at least $4,761 a month; after VCA bought the Southern California practice in February 2017 and moved its lab work to its own Antech labs, IDEXX pursued the seller for breach, putting its lost profits at $203,295 based on the contract minimum, or at least $220,973 based on the clinic's past purchasing. VIN reported that IDEXX had filed four similar contract suits against practices in 2015-2017 and won a $3.6 million judgment in one of them. The case showed how multiyear lab commitments outlive a change of ownership.
CEO Ayers Steps Down After Cycling Accident
IDEXX chairman and CEO Jonathan Ayers stepped down after a June 27, 2019 cycling accident left him with a paralyzing spinal cord injury. Jay Mazelsky, whom the board had appointed interim president and CEO effective June 28, 2019, was appointed president and CEO permanently, and lead director Lawrence Kingsley became chairman. Ayers remained a director and senior adviser to the board.
IDEXX Lays Off Workers in Wisconsin Lab Consolidation
IDEXX Distribution planned to lay off 38 employees in Marshfield and 13 in Waukesha, Wisconsin, closing its facilities in both cities as part of ongoing reference laboratory consolidation. The layoffs reflected IDEXX's broader strategy of centralizing laboratory operations to improve margins, a pattern that reduced regional laboratory employment while concentrating testing capacity in fewer, larger facilities.
Independent Veterinary Laboratories Face Extinction
The Veterinary Information Network reported that independent regional veterinary reference laboratories were disappearing: several had recently sold to national corporations, few remained that were not owned by Antech, IDEXX or Zoetis, and Antech and IDEXX together held about 90% of the U.S. market. An anonymous financial analyst quoted in the article said an independent lacked 'the muscle to deal with a sector that's 45% Antech, 45% Idexx', cited long lab contracts as a barrier to entry, and said that with 'relatively nothing left' to acquire in the U.S., all three companies had their sights on European labs.
IDEXX Acquires ezyVet to Deepen Software Lock-in
IDEXX acquired ezyVet, a New Zealand-based cloud practice management software company, adding a third PIMS platform alongside Cornerstone and Neo. The acquisition of ezyVet and its Vet Radar electronic treatment sheet deepened IDEXX's software ecosystem, tying diagnostics hardware more tightly to practice management workflows and making it even more difficult for practices to switch away from IDEXX's integrated platform.
Public IDEXX 360 Contract Shows Confidential Pricing and Breach Terms
An IDEXX 360 agreement with the Kenton County (Kentucky) Animal Shelter, posted publicly in county agenda documents, bars the customer from disclosing 'the specific terms and conditions of this Agreement, including pricing and discount terms.' The 2021 agreement replaced a 2020 IDEXX 360 agreement after the shelter missed its annual minimum purchase amount, and it lets IDEXX require immediate payment of the annual minimums for the rest of the term on breach. Commitment levels are set customer by customer, with no visibility into what others pay.
Pet Owners File Antitrust Class Action Against IDEXX
Twenty-two pet owners filed a class action in the US District Court for the Northern District of California alleging IDEXX's anticompetitive practices caused them to pay 'artificially inflated prices' for diagnostic tests. The suit alleged IDEXX used six-year exclusive contracts with steep purchase requirements and 'disloyalty' penalties scaled to each practice's purchase history (as high as six years' worth of its typical spending) to lock in veterinary practices, maintaining its 70%+ market share through foreclosure rather than merit.
IDEXX Spends About $811 Million on Buybacks in 2022
IDEXX's 2022 annual report shows it repurchased about 2.0 million shares in 2022 at a cost of about $811 million, following roughly $750 million of repurchases in 2021. The two years marked a step up from the $183 million it spent in 2020, as pandemic-era demand lifted profits.
Capitol Forum Investigation Exposes Ongoing Anticompetitive Practices
The Capitol Forum published an investigation finding that, ten years after the FTC action, IDEXX had taken steps to maintain its monopoly position in veterinary point-of-care diagnostics through anticompetitive practices in its direct sales channel. The report said IDEXX's payments for exclusive contracts with veterinary practices raised anticompetitive-conduct concerns, according to an antitrust expert, pet owners and former employees.
Texas Supreme Court Rules Against IDEXX in Patent Royalty Dispute
The Supreme Court of Texas ruled against IDEXX in a dispute with the University of Texas over royalties on SNAP test products. An audit found IDEXX had paid 0.5% royalties on over $912 million in SNAP product sales over 13 years, when the licensing agreement required 2.5%. The court found the royalty provisions unambiguous and required the higher rate, exposing IDEXX to significant underpayment liability.
Senators Warren and Blumenthal Investigate Veterinary Consolidation
Senators Elizabeth Warren and Richard Blumenthal sent letters to Mars Petcare and private equity firm JAB Holding seeking information on pricing, executive compensation, noncompetes and the impact of consolidation on pet owners and veterinary workers. The letter to Mars raised concern about Mars' consolidation of veterinary diagnostic laboratories and noted that IDEXX 'accounts for almost half the market share' of the veterinary diagnostics lab market.
IDEXX Expands Buyback Authorization by 5 Million Shares
IDEXX's Board of Directors authorized the repurchase of up to 5 million additional shares, on top of 1.3 million shares remaining under earlier authorizations as of December 3, 2024. Per its 2024 10-K and February 2025 earnings release, IDEXX used $837 million for share repurchases in 2024 and planned about $1.5 billion for 2025, roughly 4% of its equity market capitalization.
Cancer Dx Panel Launches Affordable Canine Lymphoma Detection
IDEXX announced Cancer Dx, a first-of-its-kind blood panel for early detection of canine lymphoma, priced as low as $15 when added to panels and aimed especially at the 20 million dogs at higher risk for cancer in North America. The test is available only through IDEXX Reference Laboratories (from late March 2025 in the U.S. and Canada), which deepens practices' reliance on IDEXX's reference labs.
Judge Dismisses Most of Pet Owner Antitrust Lawsuit
Chief U.S. District Judge Stacey Neumann (D. Maine) dismissed most of the pet owners' class action against IDEXX, ruling that plaintiffs in most of their 25 states and D.C. lacked standing for their state-law antitrust claims because pet owners do not buy the point-of-care products at issue. Her ruling noted that 'repealer jurisdictions' let some indirect purchasers sue under state antitrust law, but found that even states such as California did not extend that to buyers of professional services suing a supplier to those professionals. Claims proceeded only under Minnesota, Missouri and North Carolina law. The decision highlighted how IDEXX's B2B sales model insulates it from consumer antitrust challenges.
IDEXX Pays About $80 Million to End University of Texas Royalty Case
After a Texas appeals court affirmed the remaining issues on April 3, 2025, including interest, IDEXX paid a judgment of about $80 million on April 17, 2025 and the University of Texas filed a satisfaction and release, ending a suit filed in 2018 over royalties IDEXX underpaid under an expired patent license from 2004 through 2017.
Pet Owners Drop Antitrust Class Action Against IDEXX
A month after the court narrowed their case, the pet-owner plaintiffs and IDEXX filed a stipulation of dismissal in Yuen v. IDEXX, ending the 2022 antitrust class action after the court had dismissed its federal Sherman Act claims (January 8, 2024) and most state-law claims (March 28, 2025), without a ruling on whether IDEXX's practice contracts were anticompetitive. The terms, if any, were not made public.
IDEXX Names Mike Erickson to Succeed Mazelsky as CEO
IDEXX announced that Michael Erickson, an IDEXX executive since 2011 and former McKinsey associate principal, would become president and CEO on May 12, 2026, with Jay Mazelsky moving to executive chair until he retires in May 2027.
IDEXX Adds Mast Cell Tumor Detection to Cancer Dx at No Extra Cost
IDEXX said mast cell tumor detection would join its Cancer Dx panel at its U.S. and Canadian reference labs from mid-2026 at no additional cost, and it began a controlled rollout of fine-needle-aspirate cytology on its inVue Dx analyzer. More than 5,500 practices were already using the Cancer Dx lymphoma test.
IDEXX Spends $1.2 Billion on Buybacks, Plans 4% Price Gain for 2026
IDEXX reported 2025 revenue of $4,304 million, up 10%, and said it spent $1.2 billion repurchasing 2.4 million shares at an average of $500.06, cutting diluted shares 2.7%; free cash flow was about $1,057 million. Its 2026 outlook assumes an estimated 4% full-year benefit from net price increases on recurring diagnostics.
IDEXX Proxy Shows 218-to-1 CEO Pay Ratio
IDEXX's 2026 proxy statement reported 2025 total compensation of $14.58 million for CEO Jay Mazelsky against $66,956 for the median employee, a ratio of 218 to 1. Shareholders had approved executive pay with about 94% support in 2025.
Investor Day Centers Growth on Testing Utilization and Price
At its 2026 Investor Day, IDEXX outlined a $45 billion testing opportunity, noting that only 13% of U.S. wellness visits include blood work, and said long-term recurring diagnostics growth would come from utilization, innovation, instrument placements and net price realization. It plans to keep a multi-cancer Cancer Dx panel at about $15 and said buybacks have cut its share count by about 20% over time.
IDEXX Acquires AI Scribe Maker CoVet
IDEXX acquired CoVetAI, maker of AI ambient-listening and clinical workflow software for veterinary practices, and said it would integrate CoVet into its software ecosystem. IDEXX said its software would keep supporting other ambient scribes and that CoVet would continue to integrate with non-IDEXX practice management systems.
Evidence (47 citations)
D1: User Value Erosion
D2: Business Customer Exploitation
D3: Shareholder Extraction
D4: Lock-in & Switching Costs
D5: Twiddling & Algorithmic Opacity
D6: Dark Patterns
D7: Advertising & Monetization Pressure
D8: Competitive Conduct
D9: Labor & Governance
D10: Regulatory & Legal Posture
Scoring Log (8 entries)
Checked 75 items + prose. 29 verified, 33 corrected (15 date-only), 11 re-sourced, 2 removed (both unsupported). Invented: alternative named a non-existent 'American Association of Independent Veterinary Practitioners' at aaivp.org (NXDOMAIN; real body is IVPA/vetlocal.us). Contradicted: VetTest 'launched 1988' (acquired 1992 per SEC S-3); $1B revenue in 2010 (2008 per 10-K); Warren 'duopoly' citation; Chatsworth suit framing. Many misdated items (Capitol Forum 2023, VIN 2020, Kenton contract 2021). [Amended by regrade 2026-09-27: Fact audit left the pet-owner suit described as continuing in three states; the D. Me. docket shows a stipulation of dismissal on Apr 28, 2025. Added the dismissal event and updated summaries/narratives. Also re-dated the direct-sales timeline item (2013-06-01→2014-08-06) and the dismissal ruling (2025-03-01→2025-03-28).]
56→49. Since Sept 2025: FY2025 buybacks $1.2B (above FCF), 2026 outlook with ~4% net price, CEO succession (Erickson, May 2026), Cancer Dx mast cell detection added at no extra cost, CoVet AI scribe acquisition (Sept 2026); no new enforcement. D1 5→3 (recalibration: price creep ~4%/yr with improving tests fits 2-3; old score leaned on sector-wide BLS vet inflation), D2 8→6 (recalibration: contract lock-in and acceleration terms, but rivals available at term end, not captive), D4 8→7 (recalibration: strong contractual/consumable lock-in, competitive placements show exit is possible), D8 8→7 (recalibration: no active antitrust case; large rivals Zoetis/Mars), D10 5→4 (correction: pet-owner suit was dropped Apr 28, 2025, not 'continuing in three states'; UT royalty case concluded with ~$80M payment Apr 2025; Warren letter concerned Mars). Eras: first era re-dated 1991-06-01→1991-06-21 (IPO); 'Distributor Lock-out Era' re-dated 2008-01-01→2006-01-01 (exclusive distributor deals); 'Direct Sales Pivot' re-dated 2013-06-01→2013-02-12 (FTC final order); 'Ecosystem Tightening' re-dated 2020-01-01→2019-10-24 (Mazelsky CEO) and merged with 'Monopoly Entrenchment' (2026-02-17 assessment date; no distinct inflection, scores equal); 'Diagnostics Consolidation' kept. Timeline fixes: direct-sales event re-dated to 2014-08-06 announcement; dismissal ruling re-dated to 2025-03-28.
Checked 11 removed/trimmed claims: 1 restored, 3 partly restored, 7 confirmed removed, 0 already present. Restored: Mazelsky interim CEO effective June 28, 2019 (IDEXX 8-K 2019-07-01, added as d9 evidence). Partly: Chatsworth lost-profit claim $203,295/$220,973 and $3.6M Triple R judgment (VIN 2019-05-21); '45% Antech, 45% Idexx', 'relatively nothing left' and Europe quotes re-attributed to an anonymous analyst, plus 90% combined share (VIN 2020-02-21); 'repealer jurisdictions' framing from the ruling (VIN 2025-04-02). Confirmed removed: 1989 exclusive supply arrangements; mid-2000s reagent-rental expansion and 'hidden costs' quote; SNAP 1995 launch/19 million; Barnes-Jewish 'allowed continued SNAP sales' framing; 2010 $1B and undisclosed reference-lab pricing; DVMax 'Chapter 11' and lab workload; Capitol Forum 'circumventing the consent order' (article paywalled, no other source).
Orchestrator fix: description gave 'over 70%' of US point-of-care diagnostics as a current figure; that dates from the FTC's 2006-era review, so it now says 'the leading share'.
Triaged 2026-06-30 (Wave A); no rescore warranted (no material change / changes sub-threshold / flag refuted on verification).