LabGenomics USA has successfully acquired Integrated Molecular Diagnostics (IMD) CLIA labs, increasing its total number of CLIA-certified labs in the U.S. to four. This acquisition enhances LabGenomics’ strategic growth and expands its diagnostic services nationwide, particularly in molecular technology.
In August 2023, LabGenomics made its first move into the U.S. market by acquiring QDx, a pathology-focused lab on the East Coast, which became the company’s first CLIA-certified facility. With the addition of IMD, LabGenomics now operates labs in Berkeley, Sacramento, and Aurora, broadening its geographic reach and service offerings.
IMD specializes in respiratory diseases, molecular diagnostics, and oncology, with a strong focus on hematologic cancers and solid tumors. The lab collaborates with Cedars-Sinai Molecular Lab to develop a next-generation sequencing (NGS) cancer panel for solid tumors, which is set to undergo clinical validation before being launched as a Laboratory Developed Test (LDT). IMD’s labs are fully equipped with CPT and Z codes to streamline reimbursement processes, positioning LabGenomics for further expansion of its services.
JungHee Cho, Ph.D., CEO of LabGenomics USA, highlighted the synergy between the four CLIA labs located on both coasts, emphasizing the complementary roles of QDx and IMD. Dr. Cho stated, “We are committed to pioneering the U.S. diagnostic market by introducing advanced Korean diagnostic technologies. By launching LDT services, we anticipate significant revenue growth and cost savings.”
IMD CEO Israel Villasenor also expressed enthusiasm about the acquisition, stating, “IMD’s molecular diagnostics program addresses the oncology needs of community-based hospitals. With the financial and strategic support from LabGenomics USA, we can expand our services and reach more patients across the U.S.
