LabGenomics Completes Early Acquisition of QDX's US CLIA Lab... "Synergy Creation Begins"

LabGenomics announced on the 17th that it has completed the acquisition of Clia Lab in the United States ahead of schedule, just three weeks after signing the acquisition agreement.

This is one week earlier than the previously announced acquisition completion date of August 24, disclosed on the 27th of last month. It is expected that the stabilization of the U.S. business will accelerate further.

LabGenomics plans to enhance business expertise by dispatching experts with business experience and excellent research capabilities, building mutual trust to increase business synergy. The acquired Clia Lab’s “QDx Pathology Services” (hereafter QDx) will introduce various molecular diagnostic services including cancer, genetic diseases, infectious diseases, and metabolic disorders to rapidly accelerate external growth.

Already, LabGenomics’ U.S. subsidiary CEO, Jo Jeonghee, and LabGenomics’ Research Director, Executive Director Oh Mijin, have departed for the U.S. to discuss key initiatives with QDx, whose acquisition has been completed, and to review overall business operations. In particular, to ensure successful market entry in the U.S., CEO Jo and Executive Director Oh consulted with QDx management on the introduction of NGS (Next-Generation Sequencing) diagnostic services and the transition of IVD (In Vitro Diagnostic devices) to LDT (Laboratory Developed Tests).

Jo Jeonghee, CEO of LabGenomics’ U.S. subsidiary, stated, “We met with the former chief of staff to Maryland Governor Hogan, who is in charge of the U.S. Department of State’s external cooperation affairs, and held various discussions to establish cooperative relationships with the government and related agencies.” He added, “We expect rapid stabilization and business expansion in the U.S. through full support going forward.”

Meanwhile, despite challenging conditions in the diagnostics industry, LabGenomics recorded a profit in the second quarter. With QDx’s performance reflected in consolidated results in the second half of the year, a significant quantum leap in earnings is anticipated.

This content was produced with the assistance of AI translation services.