MedGenome Acquires Stake in Odisha-Based GenX Diagnostics
- ByStartupStory | July 11, 2024
MedGenome has announced its acquisition of a stake in GenX Diagnostics, an established diagnostics chain based in Odisha. This partnership promises to bring advanced genomic solutions to the region, significantly improving diagnostic and healthcare outcomes for the people of Odisha.
GenX Diagnostics, known for its robust regional presence, operates seven diagnostic centres and 60 collection centres across the state, including a flagship laboratory in Saheed Nagar, Bhubaneswar. The laboratory is accredited by both the National Accreditation Board for Testing and Calibration Laboratories (NABL) and the National Accreditation Board for Hospitals & Healthcare Providers (NABH). This strategic partnership will enable GenX Diagnostics to leverage MedGenome’s advanced scientific and technological capabilities to provide actionable genetic data insights, allowing clinicians to prescribe targeted treatments for patients.
Dr. Vedam Ramprasad, CEO of MedGenome, expressed enthusiasm about the acquisition, stating, “With the acquisition of a stake in GenX Diagnostics, MedGenome will expand its market presence and product portfolio of over 1300 tests in order to cater to a wider population base more effectively. GenX Diagnostics sits perfectly with our vision and mission to leverage genomics to address the unmet healthcare need in the country. Their mission to provide quality, reliable, and innovative diagnostic solutions align with our focus on improving access to broader omics solutions. This acquisition further aims to expand our network in tier II and tier III cities in India by driving deeper penetration, new market development, and bringing new tests to the market. With a focus on positioning Indian genomics globally, we develop solutions that cater to diverse markets worldwide.”
Dr. Biswajit Mohanty, Managing Director & Chairman of GenX Diagnostics, Bhubaneswar, echoed this sentiment, stating, “We are thrilled to announce the expansion of our advanced healthcare solutions in Odisha through our partnership with MedGenome. This strategic collaboration aims to enhance healthcare services in the region, providing comprehensive and cutting-edge diagnostic solutions. We are committed to bringing sophisticated and advanced healthcare solutions to the people of Odisha. By combining our extensive product portfolio with MedGenome’s omics solutions, we will empower clinicians and consumers in Eastern India with the best diagnostic tools available.”
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