Technology-based genetic testing firm Fulgent Genetics has acquired CSI Laboratories to expand its somatic molecular diagnostics and cancer testing capabilities.
Founded in 1997, CSI offers a client and patient-focused model of cancer diagnostic testing for pathologists, community hospitals, and their patients.
The CLIA-certified and CAP-accredited cancer reference laboratory is located in Alpharetta, Georgia and provides over 400 tests, which cover various areas such as flow cytometry, cytogenetic analysis, fluorescence in-situ hybridisation (FISH), immunohistochemistry and molecular genetics.
CSI also provides next-generation sequencing and consultations to hematopathology and surgical pathology clients.
CSI Laboratories founder Ron Ghafary said: “We look forward to expanding our cancer testing capabilities on Fulgent’s genomic testing platform and continuing to differentiate ourselves through our expertise, high-quality results and high-touch service model that our clinicians and staff deliver on a daily basis.”
The acquisition of CSI will allow Fulgent to significantly expand its capabilities in molecular diagnostics and oncologic testing.
The combination of CSI’s molecular diagnostics test menu and Fulgent’s NGS expertise is also believed to help create a novel cancer testing solution for customers across the US.
Fulgent also stated that it will leverage its established technology platform, NGS expertise, lab operations, and sales infrastructure along with CSI’s extensive cancer testing menu to create a differentiated foothold in oncologic testing in the US.
Fulgent chairman and CEO Ming Hsieh said: “We are extremely excited to add CSI Laboratories’ expertise and team to the Fulgent family.
“Their high standards for test quality and customer service fit extremely well with our values and culture at Fulgent. We look forward to adding their extensive oncologic and molecular diagnostic testing capabilities to our platform.”
Piper Sandler served as the exclusive financial advisor, while Mintz Levin, Cohn, Ferris, Glovsky and Popeo acted as legal counsel to Fulgent Genetics in relation with the deal.
