The acquisition is expected to have significant implications for the future of both companies and the industry
The announcement was officially made on August 17th at the Rockville, MD office of LabGenomics US. (Credit: Rock Staar on Unsplash)
LabGenomics USA, a subsidiary of LabGenomics, announced its acquisition of QDx Pathology, a leader in molecular and diagnostic pathology. The acquisition is expected to have significant implications for the future of both companies and the industry.
LabGenomics USA has recently acquired QDx Pathology, a diagnostic service company with a 16-year history of delivering expert pathology consultations and rapid molecular testing services to physicians and their patients. The announcement was officially made on August 17th at the Rockville, MD office of LabGenomics USA. Acquisition efforts were in process for the last three months, and the deal was finally signed on “August 16th 2023. The strategic acquisition is part of LabGenomics’s plan to expand its market reach to North America.
Junghee Cho, Ph.D., CEO of LabGenomics USA, said, “It is an honor to start a North American business with QDx, the leader of the Clinical laboratory service market in the United States. We intend to enter the U.S. diagnostic market at an innovative and reasonable price through the technology and know-how of NGS-based molecular diagnosis provided by LabGenomics.”
Tim Rich, CEO of QDx Pathology, said, “We are thrilled to be joining forces with LabGenomics and look forward to the opportunities this acquisition will bring. Together, we can leverage our strengths and provide a broader range of diagnostic tests and services to our customers.”
Source: Company Press Release