Fulgent Genetics acquires Bako Diagnostics and Stratadx for $56.9M

By Chris Stiles • Wednesday, March 18 03:27 • Permanent Link

Fulgent Genetics, Inc. (NASDAQ: FLGT) has completed the acquisition of Bako Diagnostics and Stratadx for a total combined purchase price of approximately $56.9 million in cash. Fulgent's laboratory services business includes technical laboratory and testing services and professional interpretation of laboratory results by licensed physicians. The company's therapeutic development business is focused on developing drug candidates for treating a broad range of cancers using a novel nanoencapsulation and targeted therapy platform designed to improve the therapeutic window and pharmacokinetic profile of new and existing cancer drugs.

Bako Diagnostics, a premier national provider of specialty laboratory testing services, offers a comprehensive testing menu, including complete anatomic pathology services, proprietary molecular genetic testing, and peripheral neuropathy immuno-histochemical testing. Stratadx, a national diagnostic laboratory located in Lexington, Massachusetts, is dedicated to providing best-in-class pathology services led by dermatopathology experts.

The acquisition was completed on March 17, 2026, and Piper Sandler & Co. acted as the exclusive financial advisor, while Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. served as legal counsel to Fulgent Genetics, Inc. in connection with the transaction. Ev Health Partners acted as the exclusive financial advisor, and Latham & Watkins LLP served as legal counsel to Consonance Capital Partners, Bako Diagnostics, and Stratadx.

This acquisition marks Fulgent's transformation from a diagnostic business into a fully integrated precision medicine company. It will be interesting to see how this move impacts the company's financials and strategic positioning in the precision medicine space. Following these announcements, the company's shares moved -1.99%, and are now trading at a price of $28.08. If you want to know more, read the company's complete 8-K report here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.