Lexington, KY - Speed is always a concern when a physician needs fast results from a patient's lab work. A new Lexington laboratory believes it will save doctors and patients critical time in delivering fast, accurate results directly to electronic medical record systems.
Officials at Laboratory and BioDiagnostics, or LabDx for short, cut a ribbon Thursday to open its new facility on Thunderstick Drive off Winchester Road near I-75 in Lexington. Joining the grand opening were Governor Beshear and Lexington Mayor Jim Newberry, along with a number of economic development partners who helped make the project happen. LabDx expects to create 65 high tech and lab support jobs, paying an average salary of $50,000, exclusive of benefits.
"LabDx is a Kentucky start-up. It is based on Kentucky ideas, and I'm proud of that," Gov. Beshear told the crowd at the opening ceremony. Officials are also pleased that the new facility will offer a vital service operated locally. "It helps keep some health care dollars in Lexington. We have a substantial health care presence here and LabDx will provide services that would have otherwise have gone out of town," explained Newberry. "Obviously, to have access to lab services here rather than hours away is a great plus."
LabDx had help developing its business plan and received some financial assistance as well. Because its concept met the requirements, the Kentucky Economic Development Finance Authority awarded LabDx up to $250,000 from the Cabinet for Economic Development's High Tech Investment Pool. That funding source is designed to build and promote technology-based and research-intensive companies and projects. LabDx will use the funding to buy equipment and outfit its labs.
LabDx President Rob Mudd said in a statement that he is grateful for the local and state assistance that made the lab a reality. Now he's planning for the future. "We look forward to creating and maintaining significant number of highly technical jobs within the Commonwealth." The Governor noted several recent announcements about high tech start-ups in Lexington and the jobs they are bringing, such as Galmont Consulting, a Chicago-based technology firm (90 jobs) and the expansion of Summit Biosciences (22 jobs).
In addition, plans are in the works to build the Kentucky Argonne Battery Research and Development Center in Central Kentucky. It will do research toward developing energy-saving lithium-ion cells and other advanced batteries to help meet President Obama's goal of putting one million plug-in cars on the road by 2015. The Center will be supported by the University of Kentucky and the University of Louisville.
"What is clear from all of these announcements is that Kentucky's economy is changing," said the Governor. "Our state has historically relied on agriculture and manufacturing and those industries will continue to be vital and crucial sectors," he stated. "But in a competitive 21st Century economy, we must also develop the knowledge-based part of that economy. Kentucky cannot afford to play it safe or follow in the footsteps of other states. Instead, we have to lead," the Governor concluded.
Making a fast and accurate diagnosis of a patient's medical condition is important. One local physician, Michael Carr, M.D., an internist and sole practitioner, is one of LabDx's first customers. "Previously, we worked with a Cincinnati-based company and blood work would have to go there before we could get the results. So, turn-around time was not good," explained Dr. Carr. "I changed to LabDx because they are a Kentucky-based company. All of my patients' labs are now ordered from LabDx. Any labs go directly to them and are processed and returned to us the next morning."
Dr. Carr said that there are several other labs available in Lexington for testing, some of them hospital-based, but that he had formed a positive relationship with the new LabDx owners and believed that "I would get better service."
The founders of LabDx say the company will strive for excellence in laboratory medicine and diagnostic information using its interfaced laboratory information system. That, they say, will allow LabDx to achieve accurate and expedient delivery of results. Examples of the services it will provide include testing for anemia, bone, cardiovascular, diabetes, hematology, hepatitis and HIV, renal and thyroid function and more.
LabDx uses a customer system it calls eLabDx to provide real-time order entry and secure delivery of patient results to provider offices, allowing for timely diagnosis and management of patients. According to the company's website, eLabDx consists of menus, toolbar buttons, panes and tabs that are used to view results, maintain patient demographic information and input orders. Users are assigned a secure login to access the software application.
LabDx is a client of the Lexington Innovation and Commercialization Center, which provides business-building consulting and related services through every phase of the start up of a new company.
"This is another example of the importance of education to local economic development and continuing growth in our thriving healthcare industry," said Newberry.