Bio-Reference Laboratories, Inc. has executed a purchase agreement for the acquisition of GeneDx, a gene based testing laboratory located in Gaithersburg, Maryland.
Marc Grodman, MD, CEO of BRLI, stated, "We executed an agreement for the acquisition of GeneDx. The closing, expected to be complete within the next two to three weeks, is subject to the obtaining of certain consents. This acquisition, when consummated, will represent a major new initiative for our company. We believe GeneDx is the country's leading laboratory for the diagnosis of rare and complex genetic disorders; it is a pure genetics laboratory that is actually run by geneticists".
DNA sequencing is the current gold standard of genetic testing and GeneDx with its expansive and, what we believe to be, unrivalled roster of testing holds a pre-eminent position in this diagnostic testing area. Sherri Bale, PhD, and John Compton, PhD, are geneticists who worked at the National Institutes of Health (NIH) until 2000 when they left to start GeneDx. They and their company have built an outstanding reputation over the last six years for innovation, creativity and commercial success. They are leaders in their field and they have agreed to bring that leadership, innovation and success to BRLI. Genetic testing has become a critical component to many aspects of the clinical laboratory.
The knowledgebase related to the genetics of human disease has exploded in recent years; there has, however, been disconnect in bringing these new methodologies and scientific breakthroughs into clinical practice. As we expand from the diagnosis of rare diseases to the diagnosis of the genetic variants of more common diseases, GeneDx brings to BRLI the expertise and capability to become a leader in this movement. From our base as a regional laboratory, BRLI has built focused markets where we can excel. We have done this in hematopathology, correctional health care and informatics. We have stated for some time now that we have been searching for our next focused market; we are very excited to be working with Sherri and John as we move to the forefront of the genetics' revolution.