Friday, May 25, 2018
Cancer Genetics Inc., a DNA-based cancer diagnostic company based in New Jersey, has announced the pending closure of its Los Angeles laboratory in a move that could affect dozens of workers.
Cancer Genetics, based in Rutherford, N.J., announced the shut-down of the Boyle Heights lab during a conference call with investors on May 15.
John A. Roberts, its chief executive, said in order to “optimize efficiency,” the company would sell its India operation and consolidate its L.A. molecular profiling lab to facilities in New Jersey and North Carolina.
He said the closure would take place during the second or third quarters of this year. A company spokesperson did not immediately respond to a request for comment.
Cancer Genetics reported first quarter revenue of $7.7 million, compared to $7 million for the same period last year.
Ahmed Enany, executive director of the Southern California Biomedical Council, a downtown-based trade group, said the closure could affect 20 to 50 workers.
Three years ago, Cancer Genetics paid $14 million for the Boyle Heights lab, then known as Response Genetics Inc., which was founded in 1999 as Bio Type Inc. and at its height employed 96 workers, according to Bloomberg.
Health business reporter Dana Bartholomew can be reached at email@example.com. Follow him on Twitter @_DanaBart.