Ensuring Compliance in Your Lab's Operations

In this episode, Melissa Butterworth discusses two key areas that lab owners need to focus on before taking their lab to the market: financials and compliance. She emphasizes the importance of having three years' worth of P&L statements, cash flow statements, and balance sheets in order. In terms of compliance, she highlights the importance of having a thorough compliance policy, handbook, training, and hotline. Melissa advises lab owners to work with a reputable M&A firm to ensure compliance and have all necessary documents stored in a cloud-based environment.