Genesis Biotechnology Group® Acquires Assets of 4path, Ltd to Expand their Diagnostic Branch
HAMILTON, N.J., Aug. 3, 2017 /PRNewswire/ -- Genesis Biotechnology Group(®) (GBG), a consortium of vertically-integrated entities that are concentrated in Drug Discovery and advanced, state-of-the-art molecular diagnostic services, such as next-generation sequencing and bioinformatics to aid in the detection of chronic complex diseases, announced today the asset acquisition of 4path, LTD (4path), an Anatomic and Clinical Pathology Laboratory facility located in Burr Ridge, IL. Financial terms were not disclosed.
Medical Diagnostic Laboratories, L.L.C.( ®) (MDL), a molecular diagnostic testing service company and a member of GBG, has a proven track record of service excellence and cost-efficiency through the effective use of advanced automation and robotic technology. With this collaboration, patients and providers in the Great Lakes region will have increased access to advanced molecular diagnostic assays and an expanded menu of cytopathology and histology services in multiple specialties such as Gynecology, Gastroenterology, Urology, Breast, Podiatry, and Dermatology. This collaboration also brings a dedicated sales force to expand 4path's relationship to clients in a larger geographic area, establish a rapid-response clinical laboratory to reduce turnaround time in the mid-west region, and fund future strategic growth initiatives.
According to Dr. Eli Mordechai, GBG's CEO, "This collaboration is an excellent fit with our mission to improve patient care and advance the quality of treatment options through the development and delivery of world class diagnostics. It brings together highly complementary services that enable clients to have access to a comprehensive portfolio of clinical diagnostic services in multiple therapeutic areas." This spirit of collaboration was supported by Stephen G. Ruby, MD, MBA of 4path, Ltd, who stated, "As Medical Director of 4path, I am pleased to have this relationship with the GBG family of healthcare businesses. We look forward to expanding the scope of services available to our physician base and providing them with the specialized laboratory support for their patients."
About GBG
GBG is a consortium of vertically-integrated corporate diagnostic and research entities, which facilitates the overall market implementation and delivery of biomedical science products and services related to diagnostics and drug discovery. The Diagnostic segment of GBG utilizes high complexity, state-of-the-art, automated molecular analysis to offer clinicians from many different specialties valuable diagnostic information to assist in the detection, diagnosis, evaluation, and treatment of complex disease. Through the integration of research activities and the collaboration of diverse groups of scientists with expertise in molecular biology, genetics, high throughput screening (HTS), pharmacology, molecular modeling, and medicinal chemistry, GBG will be better positioned to provide complex diagnostic platforms in infectious disease, genetic-based testing, cancer diagnostics, and drug resistance profiling.
About 4path, Ltd
4path, Ltd is a College of American Pathologists (CAP) Accredited Laboratory in the Chicago metropolitan area, which has provided Anatomic Pathology services to clients in the Great Lakes Region for over 10 years. Their team of board-certified pathologists provides highly personalized diagnostic services with expertise in Podiatry, Gastroenterology, Urology, Dermatology, Breast, Gynecology, Orthopedics and other specialties.
To find out more, please visit www.genesisbiotechgroup.com or www.4path.com.
Contact:
Ben Bandaru, Director of Mergers & Acquisitions
170782@email4pr.com
Direct: 609.245.7507
www.genesisbiotechgroup.com
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SOURCE Genesis Biotechnology Group
