The Business Bytes
Bhubaneswar, July 11, 2024 (TBB Bureau): MedGenome, a leading global genomics-driven diagnostics and research services company, has announced the acquisition of a stake in GenX Diagnostics, a prominent diagnostic lab chain in Odisha.
Founded in 2017, GenX Diagnostics has established a strong regional presence with seven diagnostic centers and 60 collection centers across the state, including a flagship laboratory in Saheed Nagar, Bhubaneswar, accredited by both NABL and NABH.
The founding members of GenX Diagnostics, Dr. Biswajit Mohanty and Dr. Bikash Agarwal, are renowned consultants in lab medicine and radiology, respectively, with more than two to three decades of clinical experience.
GenX’s extensive network of clinicians in Odisha presents significant growth opportunities to further drive genetic and molecular testing in the region. MedGenome’s state-of-the-art advanced science and technological capabilities, combined with GenX’s diagnostics leadership in the East, will provide clinicians in Odisha with actionable insights from genetic data, enabling them to prescribe targeted treatments and improve healthcare outcomes.
GenX Diagnostics has been recognized for its unwavering commitment to healthcare excellence. The company has received prestigious accolades such as the Best Diagnostic Center by Times Health Icons in 2023 and 2024, and the Best Productivity Excellence Award by the Odisha State Productivity Council in 2024. MedGenome, a market leader in the Indian genetic diagnostics market, aims to leverage this partnership to deliver superior healthcare services, ensuring the people of Odisha have access to the best diagnostic and genomic solutions available.
Commenting on the acquisition, Dr. Vedam Ramprasad, CEO of MedGenome, said, “With the acquisition of a stake in GenX Diagnostics, MedGenome will expand its market presence and product portfolio of over 1,300 tests to cater to a wider population base more effectively. GenX Diagnostics aligns perfectly with our vision and mission to leverage genomics to address the unmet healthcare needs in the country. Their commitment to providing quality, reliable, and innovative diagnostic solutions aligns with our focus on improving access to broader omics solutions. This acquisition aims to expand our network in Tier 2 and Tier 3 cities in India by driving deeper penetration, developing new markets, and introducing new tests. With a focus on positioning Indian genomics globally, we develop solutions that cater to diverse markets worldwide.”
Dr. Biswajit Mohanty of GenX Diagnostics in Bhubaneswar added, “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.”
