BioReference Laboratories, Inc. of Elmwood Park, NJ, has acquired Lenetix Medical Screening Laboratory, Inc. of Mineola, NY. BioReference is a clinical laboratory providing services for physician office practices, correctional health care services, and cancer, oncology, and hematopathology services under the label Genpath, and owns GeneDx, a DNA sequencing laboratory.

According to BioReference's Securities and Exchange Commission 10-Q statement, the company completed purchase of Lentix on March 2, 2010, including substantially all tangible and intangible assets, excluding cash, receivables and some other assets. The purchase price for Lentix was $5,490,000. Lentix's Mineola lab performs clinical laboratory diagnostic testing and genetic testing, such as molecular genetic testing, cytogentic testing, paternity testing, fetal fibronectin testing and various other biochemical tests.

In a press release, BioReference says that Lenetix's specializing of prenatal and genetic testing will enhance its own Genetic and Women's Health programs, providing BioReference with "valuable technology and licensing that will broaden and enhance the Company's current test offerings."

Marc D. Grodman M.D., President of BioReference, stated: "Our acquisition of Lenetix will enhance and help marry the core offerings of our Women's Health initiative and the strong technological expertise of GeneDx as well as lay the groundwork for assuming a leadership role in the evolving area of prenatal testing, a specific area of testing that is the natural progression of the capabilities we have developed over the past few years. The numbers have little or no effect on our financials, but the ability to offer broader, more specialized cutting edge testing will be another factor fueling our growth in the future."

Adapted in part from a BioReference press release.
Link: http://phx.corporate-ir.net/phoenix.zhtml?c=84759&p=irol-newsArticle&ID=1398860&highlight=

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