Health Diagnostics Laboratory will build two facilities at the Virginia BioTechnology Research Park at a cost of $68.5 million, the first of which will start construction in early 2012.
“Our newest expansion marks the success of not only Health Diagnostic Laboratory, but the growth of the life science community throughout Richmond, and Virginia as a whole,” Health Diagnostics chief executive Tayna Mallory said in a prepared statement.
The company, which was founded in 2009 and has about 300 employees, runs lab tests to detect such ailments as heart disease, diabetes, fatty liver disease and metabolic syndrome. The company also sets up individualized treatment plans for patients based on the results. It is based in existing space at the biotech park.
The expansion was announced by Mayor Dwight Jones, whose administration worked to secure the project for Richmond. The deal includes a $1.35 million performance-based grant.
This latest announcement is not Health Diagnostics Laboratory ‘s first expansion deal. In May, the company acquired Harris Scientific, a South Dakota testing firm.