Innova Medical, which is a subsidiary of Pasadena-based private equity firm Pasaca Capital Inc., is a health care and medical device company that during the Covid-19 pandemic has pivoted to making rapid antigen test kits.
Biological Laboratory, or BIOLAB, was certified in 1998 as a clinical laboratory focusing on endocrinology, cytology, toxicology and molecular studies. During the Covid pandemic, the company has deployed molecular and antibody testing services for the coronavirus, with 24-hour routine turnaround and two-hour turnaround in emergency situations.
By acquiring Biological Laboratory, Innova Medical can now offer its test kit clients testing analysis services, essentially turning it into a one-stop Covid testing shop.
According to the announcement, Innova Medical Group plans to significantly expand Biological Laboratory’s testing capability in the next several months. Biological Laboratory is also expected to relocate to a larger facility in Pomona during the first quarter of 2021, allowing it to add roughly 100 new jobs.