Add-on Acquisition • Healthcare Services

Fulgent Acquires BakoDx

On December 22, 2025, Fulgent acquired healthcare services company BakoDx from Consonance Capital Partners

Acquisition Context
  • This is Fulgent’s 1st transaction in the Healthcare Services sector.
  • This is Fulgent’s 5th transaction in the United States.
  • This is Fulgent’s 2nd transaction in Georgia.

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M&A Deal Summary

Date December 22, 2025
Target BakoDx
Sector Healthcare Services
Buyer(s) Fulgent
Sellers(s) Consonance Capital Partners
Deal Type Add-on Acquisition

Target Company

BakoDx

Alpharetta, Georgia, United States
BakoDx provides specialty laboratory testing services that offer a comprehensive testing menu, including complete anatomic pathology services, proprietary molecular genetic testing, and peripheral neuropathy immuno-histochemical testing. Bako is based in Alpharetta, Georgia.
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Buyer Overview 1

Buyer

Fulgent

El Monte, California, United States

Category Company
Founded 2011
Sector Life Science
Employees1,313
Revenue 283M USD (2024)
DESCRIPTION

Fulgent is a technology-based genetic testing company focused on transforming patient care in oncology, infectious and rare diseases, and reproductive health. Fulgent was founded in 2011 and is based in El Monte, California.


Deal Context for Buyer #
Overall 5 of 5
Sector: Healthcare Services 1 of 1
Type: Add-on Acquisition 5 of 5
State: Georgia 2 of 2
Country: United States 5 of 5
Year: 2025 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-12-22 StrataDx

Lexington, Massachusetts, United States

StrataDx is a diagnostic pathology laboratory that provides clinical and anatomic pathology services to healthcare providers, supporting diagnoses from skin, oral, and other tissue specimens. StrataDx Is based in Lexington, Massachusetts.

Buy -

Seller Profile 1

SELLER

Consonance Capital Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 1.3B USD
Size Large
Type Sector Focused
DESCRIPTION

Consonance Capital Partners is a healthcare-focused private investment firm focused on both public and private equity investing. The Firm's private equity group targets growth equity, leveraged buyouts, and recapitalization transactions in lower middle-market companies with $25 to $500 million of revenue. Specific areas of interest include healthcare providers, mayors, distribution, medical devices, specialty pharmaceuticals, outsourced services, and healthcare IT. Consonance Capital Partners was formed in 2005 and is based in New York City.


Deal Context for Seller #
Overall 7 of 7
Sector: Healthcare Services 6 of 6
Type: Add-on Acquisition 6 of 6
State: Georgia 1 of 1
Country: United States 7 of 7
Year: 2025 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-07 CityMD

New York, New York, United States

CityMD is an urgent care provider founded by a passionate group of emergency medicine physicians, CityMD's mission is to serve its communities by providing quality medical care through convenient access and an exceptional experience. The company's unwavering commitment to treating everyone with respect and genuine kindness while offering exceptional services and a cost-effective alternative to the ER. CityMD was founded in 2010 and is based in New York City.

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