Strategic initiative creates integrated platform dedicated to next generation precision medicine
Healthcare Global Enterprises, Ltd. (HCG:NSE) today announced execution of definitive agreements for the business combination of its Triesta Sciences business unit (“Triesta”) with Strand Life Sciences Pvt. Ltd. (“Strand”).
Strand, established in 2000 as a spin-off from the Indian Institute of Science, is a bioinformatics company working with global technology vendors and research laboratories, and is the leader in genomic testing for cancer and inherited diseases in India. Triesta, a unit of HCG, offers comprehensive molecular diagnostics services and research services in the field of oncology.
The combination of Triesta and Strand creates an integrated platform with end to end capabilities in precision medicine – proprietary analytics, clinical research, access to the HCG biorepository, genomic technologies, assay development and validation and a network of laboratories offering a broad menu of tests.
Dr. B.S. Ajaikumar, Chairman and CEO of HCG, said “Strand and Triesta have been working together in bioinformatics and clinical genomics. We are now excited to combine our strengths and resources towards redefining precision medicine. In an era of data driven healthcare, Strand’s exceptional team of computer and life scientists with access to a well annotated clinical substrate, provides a unique opportunity to create exceptional value.”
Dr. Ramesh Hariharan, Founder and CEO of Strand, said “Triesta and HCG have been pioneers in bringing the latest advancements in molecular biomarkers into clinical practice in the country. Together we are well on the path to building Asia’s leading integrated analytics driven diagnostic and genomics research company. Through this alliance we will work together to be at the forefront of precision medicine”.