Empire Genomics Acquires ID Labs, Inc. A Leading Molecular Diagnostic Reagent Company2015-01-07 22:21:05
Date: January 5, 2014
Buffalo, NY – Empire Genomics today announced the acquisition of ID Labs, Inc., a leading molecular diagnostic reagent company operating out of London Ontario. ID Labs has been providing high quality products for well over 20 years and has strong distribution and customer relationships globally.
"The acquisition of ID Labs is in direct alignment with our corporate strategy of complementing the product offerings for our clinical service lab and customers as well as increasing our global distribution network," said Anthony Johnson, president and CEO of Empire Genomics. "I expect this to be the first of several acquisitions as we look to accelerate the growth of our business in the ever changing molecular diagnostics environment."
“I am especially pleased that ID Labs and its team are now a part of Empire Genomics, with its well-recognized quality products and services in molecular diagnostics,” said Dr. Reza Mazaheri, founder and CEO of ID Labs.
In addition to driving increased product growth, ID Labs also provides committed and experienced personnel to Empire Genomics. The Company expects ID Labs’ revenue to grow under the support of the marketing, sales and manufacturing excellence that Empire Genomics will provide.
“The acquisition of ID Labs will allow Empire Genomics to continue our mission towards enabling personalized medicine with a more comprehensive portfolio of products and services,” said Norma J. Nowak, Chief Scientific Officer and Founder.
ID Labs serves customers in academia, government, pharmaceutical, biotech, and hospitals, and provides them with antibodies, molecular probes, cytogenetics media as well as many other molecular biology reagents. Under the acquisition terms, the ID Labs name will become part of Empire Genomics. No other terms of the deal were announced.