P4 Diagnostix® Announces Acquisition of Strand Diagnostics and know error®
Agreement Re-establishes DNA Confirmation Testing and Solidifies Critical Supply Chain Aspects for Large Urology Group Practices
BELTSVILLE, MD – February 6, 2020
P4 Diagnostix, a network of nationally-recognized diagnostic testing laboratories, today announced the acquisition of the assets of Strand Diagnostics, creator of the know error® system.
Strand’s suite of DNA Specimen Provenance Testing (DSPT) is a leader in the field of DNA confirmation testing. In addition to their cutting-edge forensic DNA know error system, the company offers UroSeq® germline testing that can be used in accordance with NCCN guidelines for patients with advanced prostate cancer.
P4 plans to reenergize the brand and immediately resume testing, supplies and logistics for all know error clients.
“We recognize the value in DNA Provenance testing and the importance it plays in single specialty practices, especially large urology group practices and commercial laboratories that operate a histology laboratory,” says Sathish Reddy, President and CEO of P4 Diagnostix. “We’re also excited to be able to immediately offer the UroSeq assay to our existing client base as we expand our molecular testing capabilities at P4.”
Both the know error and UroSeq systems utilize DNA Specimen Provenance Assay (DSPA) testing, which is used to increase diagnostic efficiency and accuracy by matching DNA. This additional security measure verifies that the biopsy specimen belongs exclusively to the patient and has not been contaminated with outside DNA material.
The acquisition will offer P4 Diagnostix clients an even wider range of offerings and services for all of their diagnostic testing needs. In addition to their laboratories in Maryland, New York, New Jersey, Virginia, Georgia, North Carolina and Arizona, P4 has a partnership with VitalAxis Inc., an innovative cloud-based healthcare IT product and services company that serves more than 5,000 urologists,10,000 physicians and 100,000 end users.