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Friday, Jun 21, 2024

LA500 2024: Ming Hsieh

Chair, Chief Executive, Fulgent Genetics Inc.

Hsieh founded Fulgent Genetics in 2011 with the goal of providing comprehensive yet affordable genetic testing. When the Covid-19 pandemic hit, Fulgent quickly added Covid testing capabilities and won major testing contracts with public agencies in Los Angeles and across the nation. The company supplied approximately 19.3 million such tests through 2022, generating more than $1.7 billion in revenue. Hsieh’s effort to transform Fulgent from a diagnostic business into an integrated medicine company focused on oncology through the addition of Fulgent Pharma, completed in 2022. Last year, Fulgent saw continued growth in its non-Covid diagnostic business and moved ahead with clinical trials for its lead drug candidate to treat a range of cancers. Hsieh co-founded biometric identification services and products company Cogent Inc. in 1990, which was acquired in 2010. Hsieh, a USC graduate, has served as a trustee at USC since 2007.

YEARS ON LA500: 4

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