DataMEDS AI Jumps 87% on Helomics Acquisition
DataMEDS AI (MEDS) has made significant strides in the medical technology sector after announcing its acquisition of Helomics Corporation from Axe Compute Inc. for $1.5 million. The deal includes Helomics' CLIA/CAP-certified clinical laboratory, all lab equipment, and a contract research organization (CRO) central lab services business. In addition to this, DataMEDS received $1.5 million in cash.
The acquisition marks a significant expansion for DataMEDS into the U.S. cancer diagnostics and treatment market, which is estimated at around $40 billion. According to Gerald Commissiong, Interim Co-CEO of DataMEDS, the deal will allow the company to improve outcomes for patients in rural areas by expanding its services beyond GLP-1 agonist side effects and Long COVID into cancer diagnosis and treatment.
Under DataMEDS' ownership, Helomics plans to grow beyond tumor molecular profiling and chemosensitivity testing. The company aims to provide cancer screening, traditional CLIA lab services, and nutritional support for cancer patients.