Mayo Clinic Labs Invests in Pathology Asia to Bring Genomic Testing Closer to ASEAN Patients
The US diagnostics heavyweight has bought into a seven-market lab network, a move meant to bring more advanced genomic testing within the reach of doctors in Singapore and Malaysia.
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur Asia Pacific, an international franchise of Entrepreneur Media.
Mayo Clinic Laboratories has made a strategic investment in Singapore-based Pathology Asia Holdings (PAH) and its genomics subsidiary LifeStrands Genomics, the companies said. Neither side disclosed the size of the investment, the ownership percentage or other financial terms. The investment includes a collaboration to widen access to molecular and genomic testing for identifying genetic conditions, assessing disease risk and supporting diagnosis and treatment planning.
William Morice II, president and chief executive officer of Mayo Clinic Laboratories, has been named scientific advisor to PAH, and LifeStrands will trade as “LifeStrands in collaboration with Mayo Clinic Laboratories” in certain markets the companies have not named.
Mayo Clinic Laboratories is the testing business of the Rochester, Minnesota-based non-profit Mayo Clinic. It works with Mayo Clinic’s department of laboratory medicine and pathology and offers more than 4,400 tests and pathology services to healthcare organisations worldwide.
PAH, founded and led by Christopher Ting, runs labs across Singapore, Malaysia, Indonesia, Thailand, Vietnam, the Philippines and Australia under brands, including Innoquest, Singapore Diagnostics, TissuPath and Safework Health. LifeStrands comprises three specialist labs, LifeStrands Genomics Singapore, LifeStrands Genomics Australia and DNA Laboratories, testing across oncology, reproductive health, inherited disorders and wellness.
Those labs carry CAP accreditation, the College of American Pathologists’ inspection programme, and ISO 15189, the international quality standard for medical laboratories. Both matter to a partner whose name the business will now trade under in some markets.
What Each Side Gains
For PAH, the deal builds on a platform funded by private equity. As part of TPG Capital Asia, PAH acquired Singapore’s Innovative Diagnostics and Quest Laboratories in September 2018 and later merged them into Innoquest Diagnostics. In 2019, Ting said he planned to consolidate a fragmented regional pathology industry, using strong positions in Singapore and Malaysia to reach the region’s other 600 Mn people.
The tie-up pairs Mayo’s global clinical and diagnostic expertise with PAH’s regional network and market knowledge. Ting called the investment “an important milestone”, and the deal was described as the deepening of an existing long-term relationship between the two.
For Mayo, the investment brings a stake in a working lab network that already serves healthcare providers, hospitals and patients across seven markets. Morice said the collaboration is “bringing advanced diagnostic capabilities closer to patients”.
For clinicians in Singapore and Malaysia, the practical gain is distance. Tech news site TechNode Global noted that the tie-up could cut the distance for providers that now have to ship samples or refer patients out of their home market.
What Is Still Unknown
The announcement leaves open how fast anything changes on the ground, as the deal sets no timetable for new tests or services in any market.
Running a genomic test is the easier half of the task. The harder part is turning a variant report into a treatment decision a local doctor can act on. That is where Mayo’s subspecialist bench, which it says is available to discuss test orders and results, has to show up in day-to-day reporting for ASEAN doctors.
Next, the two companies need to name the markets where the co-branded LifeStrands service goes live and the tests that move onshore first. Singapore and Malaysia, where PAH built its base, are the places where that list will be watched most closely.
Mayo Clinic Laboratories has made a strategic investment in Singapore-based Pathology Asia Holdings (PAH) and its genomics subsidiary LifeStrands Genomics, the companies said. Neither side disclosed the size of the investment, the ownership percentage or other financial terms. The investment includes a collaboration to widen access to molecular and genomic testing for identifying genetic conditions, assessing disease risk and supporting diagnosis and treatment planning.
William Morice II, president and chief executive officer of Mayo Clinic Laboratories, has been named scientific advisor to PAH, and LifeStrands will trade as “LifeStrands in collaboration with Mayo Clinic Laboratories” in certain markets the companies have not named.
Mayo Clinic Laboratories is the testing business of the Rochester, Minnesota-based non-profit Mayo Clinic. It works with Mayo Clinic’s department of laboratory medicine and pathology and offers more than 4,400 tests and pathology services to healthcare organisations worldwide.