Fulgent Genetics to acquire selected assets of Bako Diagnostics, and StrataDx from Consonance Capital for $55m.

Fulgent Genetics, a technology-based company active in laboratory services and therapy development, agreed to acquire selected assets of Bako Diagnostics, a national provider of specialty laboratory testing services, and StrataDx, a national diagnostic laboratory located in Lexington, Massachusetts, dedicated to providing dermatopathology health care services, from Consonance Capital, a healthcare investment firm, for $55m. “We are pleased to continue to build upon our laboratory services platform with the addition of Bako and StrataDx, which will further expand and strengthen our diagnostic services. With the addition of Bako and StrataDx, we will be able to broaden our capabilities in the pathology testing market and further leverage our investments in AI to improve efficiency and quality, which will drive continued momentum in our laboratory services business. Our business has been growing organically at double digit rates for several quarters, and, following closing, we will be able to layer on Bako’s services to our testing menu to further strengthen our laboratory services business,” Ming Hsieh, Fulgent Chairman and CEO.