This update includes GeneDx's policy that tests can be ordered only by, and results delivered only to, medical professionals.
NEW YORK (GenomeWeb News) — Bio-Reference Labs today said it has closed its acquisition of GeneDx.
As GenomeWeb News reported, Bio-Reference said in August that it planned to acquire specialty testing shop GeneDx for as much as $17 million. The buy will enable the company to consider expanding into pharmacogenomics testing, an official said at the time.
GeneDx, based in Gaithersburg, Md., uses DNA sequencing technologies to perform genetic tests for a large number of rare disorders. The company markets its services to physicians and patients.
However, a GeneDx official stressed that its “tests must be ordered by a medical professional ... and results are provided to the ordering individual. Results are never provided to a patient, and a patient can not order tests on him/herself or a family member.”
Using GeneDx as a launching pad to enter the molecular diagnostics market, including the drug-monitoring space, is one option that is “on the table,” Amar Kamath, marketing director for Bio-Reference’s molecular business, told GenomeWeb News in August.
Kamath said management from both companies will meet over the next few weeks to “hash out” Bio-Reference’s options once GeneDx is on board, and may by the end of September have a better idea of where the company wants to go in relation to pharmacogenomics.
”We haven’t ruled anything out,” Kamath said. “All options are on the table.”
GeneDx generated “just short” of $5 million in revenue in 2005, and receipts this year have grown 35 percent, Bio-Reference said