EL MONTE, Calif. — Fulgent Genetics, Inc. said it has entered into a definitive agreement to acquire selected assets of Bako Diagnostics and to acquire StrataDx in a transaction valued at approximately $55.5 million.
The acquisition, which will be funded from cash on hand, is expected to close in the first half of 2026, subject to customary closing conditions, including regulatory approvals. The company said the deal will expand its laboratory services business by adding new anatomic pathology services, proprietary PCR-based tests, and a national client base.
Bako Diagnostics, headquartered in Alpharetta, Georgia, is a national provider of specialty laboratory testing services, offering a comprehensive menu that includes complete anatomic pathology services, proprietary molecular genetic testing, and peripheral neuropathy immunohistochemical testing. The laboratory is CLIA certified, CAP accredited, and licensed by the Georgia Department of Public Health.
StrataDx, based in Lexington, Massachusetts, is a national provider of dermatopathology testing services. The laboratory is CLIA certified, CAP accredited, and licensed by the State of Massachusetts.
Fulgent said the acquisitions support its strategy of expanding its laboratory services platform through a combination of research and development, partnerships, and targeted acquisitions. The company has also focused on expanding access to its testing services through managed care contracts and scaling its commercial reach with a growing national sales organization.
The company said its technology platform, which supports bioinformatics, clinical workflow, laboratory operations, record management, and artificial intelligence, will be used to integrate Bako and StrataDx. Fulgent expects to leverage its investments in digital pathology and artificial intelligence, including its proprietary image management system, to improve efficiency, turnaround times, and quality across the combined operations.
With the addition of Bako and StrataDx, Fulgent said it will expand its pathology testing capabilities, national sales footprint, and team of expert pathologists. The acquisition also broadens the company’s geographic reach with certified laboratories in Georgia and Massachusetts.
Ming Hsieh, chairman and chief executive officer of Fulgent, said the acquisition strengthens the company’s diagnostic services portfolio and builds on its recent organic growth. He said the addition of Bako and StrataDx will allow Fulgent to broaden its pathology testing capabilities and further apply artificial intelligence to improve efficiency and quality.
Ted Hull, chief executive officer of Bako and StrataDx, said joining Fulgent brings together advanced technology, digital capabilities, and specialized expertise to better serve clients and enhance the overall diagnostic experience.
Sean Breen of Consonance Capital said Bako and StrataDx have established themselves as leaders in diagnostic pathology and are well positioned to accelerate growth and expand their reach as part of the Fulgent platform.
