KINGMED DIAGNOSTICS GROUP CO., LTD

KINGMED DIAGNOSTICS GROUP CO., LTD Overview

Company Headquarters: London, UK

Founded: 1856

Workforce: ~16,000

Company Working: KingMed Diagnostics Group Co., Ltd (KingMed Diagnostics), established in 2003, is regarded as one of the leaders of the Independent Clinical Laboratories (ICL) industry in China. KingMed is the first ICL with both CAP and ISO15189 accreditation in China. By following the international quality standards and independent innovation, KingMed provides more than 2,600 tests for clinical and scientific research purposes, which represents one of the most comprehensive and integrated test menus in China. Its lab testing reports are accepted by more than 50 countries and regions worldwide. KingMed has 37 laboratories set up in mainland China and Hong Kong, covering 90% of the Chinese population. KingMed provides medical testing services for more than 22,000 medical institutions, with an annual specimen amount of over 60 million. It has built a Telepathology Network and Pathologist Group in China, which consists of more than 600 domestic and foreign pathologists. Relying on its extensive service network, excellent diagnostic capacity, and accumulated huge amount of data, KingMed has put forward a "Diagnostics+" strategy and is devoting great efforts to create a Diagnostic Ecosystem by broadening its service areas, such as In Vitro Diagnostics (IVD), Healthcare Big Data, Artificial Intelligence (AI), Forensic Testing, Clinical Trials with CRO, Physical Examination, Food and Hygiene Testing, Cold-Chain Logistics, and other services.

Strategy

KingMed Diagnostics has high quality, and international talent team specialized in research and development. By bringing well-known experts and academic leaders together from home and abroad, this team has strong R&D capacity in line with the cutting-edge international technology in medical testing. The company has strong collaborations with pharmaceutical and medical device companies.

Company Snapshot

16,000

Employees

1856

Founded

London, UK

Headquarters

SWOT Analysis

Strengths

Services cover 90% of Chinese population
Annual specimen testing amount of over 60 million
Technical innovations

Weaknesses

Stringent government policies
Pricing pressures

Opportunities

Increasing clientele base

Threats

Recent viral epidemic disease has affected the economy

Key Developments

Date	Approach	Development
July 2019	Collaboration	To bring more treatment and survival benefits to colorectal cancer (CRC) patients, Merck and KingMed Diagnostics have entered into a collaboration, under which the two sides will jointly accelerate the standardization of molecular marker testing for CRC, thereby helping doctors and patients to find optimized treatments.
January 2019	Collaboration	Personal Genome Diagnostics Inc. (PGDx) operating in cancer genomics, and KingMed Diagnostics have entered into a strategic collaboration for the PGDx elio tissue complete assay. This collaboration provides PGDx and KingMed Diagnostics the opportunity to serve the clinical trial screening needs of pharmaceutical partners in the Asian market through testing sites in the Chinese Mainland and Hong Kong
January 2019	Collaboration	Q² Solutions, a clinical trial laboratory services organization, has collaborated with KingMed Diagnostics, an independent clinical laboratory in China, to jointly develop in vitro diagnostics (IVD) products and companion diagnostics (CDx) in China. The collaboration combines Q² Solutions’ advanced technologies and scientific expertise in clinical trial laboratory testing with KingMed’s laboratory, marketing, and regulatory expertise in China to promote the development of IVDs.
October 2018	Collaboration	KingMed Diagnostics has joined and entered into a collaboration with the Global Diagnostics Network (GDN), which is launched by the provider of diagnostic information services, Quest Diagnostics. The GDN is a strategic working group of diagnostic laboratories, each committed to unleashing and sharing local innovation to increase global access to diagnostic science, information, and services.
January 2018	Collaboration	KingMed Diagnostics and Illumina, Inc. collaborated to develop novel oncology and hereditary disease testing applications utilizing Illumina’s next-generation sequencing (NGS) technology. The collaboration is a significant step toward China Food and Drug Administration (CFDA) review and approval and serves as a starting point to deliver precision medicines to patients throughout China.

Product Offering

KINGMED DIAGNOSTICS GROUP CO., LTD
- Clinical Diagnostics
- Clinical Trials
- Lab Services
- Health Management
- Cold chain Logistics
- Hygiene Testing Service

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