Chief Executive, Chair
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. But just as quickly as Covid-testing revenue ramped up, it plummeted. The company hopes that a 50-year, $99 million diagnostic testing contract with the Veterans Administration awarded last year will stop the revenue slide. Hsieh has also begun to transform Fulgent from a strictly diagnostic business into an integrated medicine company.
YEARS ON LA500: 5
