GeneNews in pact with AIM Labs to expand test utilization

genenews.jpg

GeneNews (TSX:GEN) is partnering with AIM Laboratories, a closely-held diagnostic laboratory in St Louis to offer its tests to AIM's client base, while GeneNews will offer AIM's tests to its Innovative Diagnostic Laboratory client base. The collaboration will begin immediately.

aim-laboratories.png

GeneNews’ IDL operates a full service reference lab focused on early cancer risk stratification and diagnosis, largely on the East and West coasts. AIM Labs operates a full service reference lab focused on routine blood testing and specializing in therapeutic drug monitoring for prescribed and illicit drugs and services about 20 states, with particular strength in the Midwest.

"Combining forces and capitalizing on each company's geographic strengths will help both parties expand rapidly throughout the U.S. market," James Howard-Tripp, chairman and CEO of GeneNews, said in a statement.

In addition, the collaboration will give both companies the opportunity to expand their test menus in order to provide additional benefits to new and existing practices and healthcare systems, he added.

Sonny Naqvi, AIM's CEO, said both companies already work together in servicing some of IDL's clients in the Midwest. "This new agreement will allow us to expand operations together, particularly in the fast growing areas of high-risk populations and telemedicine."