LabGenomics USA, a subsidiary of LabGenomics Co., Ltd., has acquired QDx Pathology, a renowned player in molecular and diagnostic pathology. This strategic move signifies a significant development for both companies and the industry. LabGenomics USA’s expansion into North America is facilitated by this acquisition, allowing them to offer NGS-based molecular diagnostics at an innovative and affordable price. QDx Pathology’s CEO, Tim Rich, expressed excitement about the opportunities this collaboration will bring, enhancing their diagnostic offerings.
LabGenomics USA, a subsidiary of LabGenomics Co., Ltd., 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.”
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Source: BioSpace