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LabGenomics USA Acquires Integrated Molecular Diagnostics

NEW YORK – LabGenomics USA said Friday that it has acquired Integrated Molecular Diagnostics for an undisclosed amount.

The deal brings the number of LabGenomics USA's CLIA-certified laboratories in the US to four. Last year, the Rockville, Maryland-based firm acquired QDx Pathology, marking its entry into the US.

IMD provides services related to respiratory diseases, molecular diagnostics, and oncology with a particular focus on hematologic cancers and solid tumors. It also is collaborating with Cedars-Sinai Molecular Lab on a next-generation sequencing-based panel for solid tumors, which it plans to launch as a laboratory-developed test.

LabGenomics USA is a subsidiary of LabGenomics, headquartered in South Korea.

"We are committed to pioneering the US diagnostic market, aiming to introduce Korean diagnostics technologies," LabGenomics USA CEO Junghee Cho said in a statement. "By launching LDT services, we expect revenue growth and cost savings."