NEW YORK – LabGenomics USA, a subsidiary of South Korean-based diagnostics firm LabGenomics, said Tuesday that it has acquired QDx Pathology for an undisclosed amount.
LabGenomics said that the acquisition of the molecular and diagnostic pathology firm is part of its plans to expand its market reach in North America.
"We are thrilled to be joining forces with LabGenomics and look forward to the opportunities this acquisition will bring," QDx CEO Tim Rich said in a statement. "Together, we can leverage our strengths and provide a broader range of diagnostic tests and services to our customers."
"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," LabGenomics USA CEO Junghee Cho said in a statement.
Financial and other terms of the deal were not disclosed.