Molecular Lab Partners Announces 2022 Year End Results and Robust 2023 Pipeline

• Organic Sales Growth Of 47% YoY
• Excluding COVID-19 Testing-Related Sales, FY 2022 Sales Growth Of 197%
• National COVID-19 Testing-Related Sales Growth Of 16% YoY
• Fourth Quarter New Account Expansion of 120% Over Prior Quarter

OVERLAND PARK, Kan., Jan. 6, 2023 /PRNewswire/ -- Molecular Lab Partners, LLC (MLP), a national provider of turn-key Clinical Laboratory and Physician Office Laboratory (POL) Solutions, today announced 2022 year end results and provided business updates for fiscal year 2023.

"2022 was an outstanding year for Molecular Lab Partners," said Joe Case, Co-Founder & CEO. "Following a strong 2021, we increased overall sales by 47% in 2022, exceeding expectations set last year and, importantly, continued to advance our new product platform across our entire portfolio. While much of 2021 was focused on providing customers with COVID testing solutions in response to the global pandemic, 2022 saw a shift in demand towards innovative new offerings, highlighted by our COVID/Flu/RSV panel, as well as our core, non-COVID assays."

MLP saw tremendous expansion in its non-COVID division, with sales growing by 197% YoY. Growth in MLP's COVID division, slowed compared to 2021, but still grew by 16% YoY.

"MLP made important strategic progress this quarter and is well positioned to deliver sustained growth for the foreseeable future," said Joe Renzi, Co-Founder & COO. "While we continue to see an acceleration of growth in our new customer pipeline, we are intensely focused on the execution of our business development strategy, including strengthening customer onboarding efficiency and strategically adding staff to support our existing clients and provide exceptional service to them."

MLP expanded its active customer base by 163% in 2022, and anticipates similar growth in 2023.

Molecular Lab Partners LLC, a privately owned company, specializes in providing hands-on consulting services to physicians interested in bringing molecular based PCR testing in-house as an ancillary service. Their turn-key solution allows physicians to begin operating their own high complexity molecular lab in as little as three months. In addition, MLP expedites the assay validation process for existing, high complexity laboratories wanting to expand their current testing platform.  For additional information about Molecular Lab Partners LLC, please visit www.molecularlabpartners.com.

SOURCE Molecular Lab Partners