[Click eStock] "LabGenomics, Beginning of Value Reassessment with Clia Lab Acquisition"

Independent research firm IV Research analyzed on the 11th that LabGenomics has entered the early stage of valuation rerating following the acquisition of CLIA Lab.

LabGenomics is a diagnostic specialized company established in 2002 that develops in vitro diagnostic services and diagnostic products. It was the first in Korea to commercialize NGS (Next-Generation Sequencing)-based non-invasive prenatal testing (NIPT) services. The company possesses a broad in vitro diagnostic portfolio ranging from molecular diagnostics and immunochemistry technology-based products to NGS gene diagnostics.

IV Research stated, "This year, Luhap Private Equity (PE) invested a total of 122.7 billion KRW to acquire a 30.2% stake, becoming the largest shareholder and currently concretizing its post-COVID strategy. At this point, with the acquisition of the US-based CLIA Lab, the visibility of LabGenomics’ high value-added diagnostic content entering the US market is apparent, and we judge that it is in the early stage of valuation rerating."

They added, "Most domestic NGS-based diagnostic companies or antigen-antibody-based diagnostic companies that have focused on selling diagnostic kits lack experience in the contract business or the cash mobilization capability to acquire a competitive CLIA Lab. LabGenomics is the only domestic company capable of operating the US CLIA Lab, possessing cash assets accumulated through numerous domestic PCR sales and export achievements, as well as a network of over 3,000 hospitals."

CLIA Lab forms a market of approximately 70 trillion KRW in the United States. Recently, large laboratories have been expanding their business by acquiring small to medium-sized labs capable of regional response, and the importance of the diagnostic sector in future medical services is being highlighted.

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