Clinical Genomics is a Sydney- based healthcare company that specialises in screening solutions for the early detection and prevention of cancer.
Founded in the late 1990s to design and develop easy-to-use screening tools, one of the company’s key products improves the early detection of colorectal cancer.
Clinical Genomics manufactures its products in Australia and started exporting in 2002 after achieving Food and Drug Administration (FDA) approval in the United States, which is its primary market.
Selling to some of the world’s biggest labs right through to small doctors’ offices, the majority of its exports are sold to US buyers, along with a growing presence in China.
Clinical Genomics operates a distribution centre in the US that primarily looks after the company’s US partners like Quest Diagnostics, one of the largest labs in the world.
Clinical Genomics has a fiveyear, $20 million supply deal with Quest Diagnostics, which involves selling over two million test kits and a million test kits a year for Quest Diagnostics to screen their patients.
To honour this supply agreement, Clinical Genomics needs to provide kits throughout the year, which requires regular cashflow to support manufacturing.