Monday, June 27, 2011
ROCHESTER, Minn. — Mayo Clinic today announced that it has entered into a multiyear agreement with Wuhan Kindstar Globalgene Technology, Inc. (Kindstar) to provide specialized laboratory support based on provision of knowledge from Mayo Clinic's Department of Laboratory Medicine and Pathology and its reference laboratory, Mayo Medical Laboratories.
The collaboration supports Mayo's efforts to improve patient care worldwide and expand Mayo Medical Laboratories' international activities with shared goals for providing high-quality patient care by helping physicians order the right tests at the right time. This collaboration will allow Kindstar to accelerate the introduction and acceptance of new tests by physicians in China.
"Mayo Clinic's legacy of providing exceptional patient care and advancing the science of health care delivery through the transfer of knowledge and information allows Mayo Clinic to inform, inspire, and partner with people worldwide in their quest for better health," says Franklin Cockerill, M.D., president and CEO, Mayo Medical Laboratories, and chair, Department of Laboratory Medicine and Pathology, Mayo Clinic. He is also the Ann and Leo Markin Professor. "As Mayo Clinic collaborates with others to provide the best in health care, we extend the hope and healing of Mayo Clinic to people everywhere. It is how we bring our values to life, make our mission a reality, and achieve our global vision for the future."
Currently, Kindstar offers 750 tests in specialties including hematology, oncology, genetics, infectious diseases, and cardiovascular disease. Through the collaboration with Mayo Clinic, Kindstar will expand its test menu offerings, promoting high-quality diagnostic and therapeutic care for the people of China by providing patients and physicians the broadest access to advanced esoteric testing services.
"We are excited about the collaboration we have developed with Mayo Clinic," says Shiang Huang, M.D., founder and CEO of Kindstar. "The strategic collaboration will allow Kindstar to expand the current testing services we offer Chinese physicians and position our business as the leading diagnostic company in the fastest growing market in the world."
Established in Wuhan, Hubei Province, in 2003, Kindstar is the leading esoteric diagnostic testing business in China, providing laboratory testing services to more than 2,000 Chinese hospitals, including 660 tertiary hospitals. Kindstar's diagnostic services help physicians properly diagnose diseases and allow them to develop treatment plans for patients suffering from hematologic malignancies, solid tumors, and genetic diseases.
Mayo Clinic will provide advice on tests, laboratory quality, and accreditation standards, as well as test information, including standard operating procedures (SOPs) and methodologies, to help Kindstar accelerate its development and launch of high-quality esoteric tests in China. Mayo Clinic clinicians will also be available to provide knowledge regarding the medical and technical benefits of tests.
As part of the collaboration agreement, Mayo Clinic will receive equity in Kindstar. In addition, Mayo Clinic participated in Kindstar's Series B financing.
The Department of Laboratory Medicine and Pathology at Mayo Clinic maintains an active diagnostic test development program. This program incorporates Mayo discoveries and expertise with discoveries from other diagnostic and biotechnology companies and leading academic and research organizations. Mayo uses these proven diagnostic technologies to care for its own patients and offers them to more than 5,000 health care institutions around the world through Mayo Medical Laboratories. Revenue from testing is used to support medical education and research at Mayo Clinic.
Kindstar Diagnostics Co., Ltd., with laboratory facilities in Beijing, Shanghai and Wuhan, provides esoteric diagnostic testing services to hospitals and physicians in every province of China. Kindstar is the first and largest esoteric diagnostic testing business in China, providing laboratory testing services to over 2,000 Chinese hospitals, including 660 tertiary hospitals (Class III A and B). Kindstar is becoming the partner of choice to physicians in China for advanced diagnostics in many medical specialties including hematology, oncology, infectious diseases and medical genetics.
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Representing Wuhan Kindstar:
Angela Pittman Taylor
Baird Public Relations
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