What Hematologics does

Hematologics, Inc. is a Seattle-based, founder-owned diagnostic laboratory founded in 1995 that provides specialized hematopathology testing services to US healthcare providers and biopharmaceutical sponsors. The company offers an integrated test menu including flow cytometry, cytogenetics, fluorescence in situ hybridization (FISH), molecular analysis (PCR and Sanger sequencing), next-generation sequencing panels for myeloid disorders, and FACS-based clinical cell sorting, all performed in-house under a single CLIA-licensed operation. Its flagship offering is the proprietary ∆N:™ (Difference from Normal) Flow Cytometry methodology, which detects minimal residual disease in acute leukemia at sensitivities as low as 0.02% without requiring a diagnostic specimen, complemented by Retrospect DNA Archiving for longitudinal patient monitoring.

The lab operates under CAP accreditation and holds clinical laboratory permits in eight US states, with cytogenetics procedures certified to SWOG and Children's Oncology Group standards for clinical trial specimens. Customers include hospitals, clinics, and treating physicians served via nationwide FedEx shipping, a regional courier network within 60 miles of Seattle, and the Hematolinx and Provider Portal online reporting systems, alongside biopharmaceutical companies using the lab for clinical trial endpoint analysis. The company was founded and remains led by Dr. Michael R. Loken (President and Laboratory Director) and Dr. Denise A. Wells (Vice President and Medical Director), with no external funding rounds or parent company disclosed in public materials.

Revenue is generated through standard clinical laboratory billing to providers, insurers, and patients using CPT-coded tests, with turnaround times ranging from 24-48 hours for flow cytometry to 7-10 days for NGS. Strategic emphasis is on multi-technology integration and interpretive depth, with directors collaborating directly on every case rather than segmenting work across specialty labs. The company publishes annually in peer-reviewed journals and maintains founding membership in the European LeukemiaNet MDS Flow Cytometry Working Group, reinforcing its position in the academic and clinical trial reference ecosystem.

Name

Hematologics

Legal name

Hematologics, Inc.

Website

https://hematologics.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

101–250 employees

Short description

Hematologics is a Seattle-based, founder-owned hematopathology diagnostic laboratory serving US healthcare providers and biopharmaceutical sponsors with proprietary flow cytometry, MRD testing, cytogenetics, FISH, and NGS services performed entirely in-house.

Ownership category

akta.pro rank

Product category

Clinical Diagnostic Laboratory Services

NAICS

Medical Laboratories (621511), Medical and Diagnostic Laboratories (62151)

SIC

Services-Medical Laboratories (8071)

akta.pro primary industry

Hematology & Coagulation Laboratories (HLAFAMAC)

akta.pro secondary industries

Flow Cytometry & Cellular Analysis Diagnostics (HLAHAAAF), Hematology & Coagulation Diagnostics (HLAHAAAB), Anatomic Pathology & Histopathology (Trial Support) (HLAGAEAC), Pediatric Hematology & Oncology (HLAKAFAE)

Keywords

• Hematopathology diagnostics
• Flow cytometry services
• MRD testing
• Cytogenetics analysis
• Molecular diagnostics

Headquarters

HQ city

Seattle

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Clinical Diagnostic Laboratory Testing Services: Provides comprehensive diagnostic testing services for hematologic malignancies including flow cytometry, cytogenetics, FISH, molecular analysis, and NGS. Services are billed to healthcare providers, insurance companies, and patients through standard laboratory billing processes with CPT codes for each test. Turnaround times range from 24-48 hours for flow cytometry to 7-10 days for NGS.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

Hematologics is a clinical diagnostic laboratory that performs specialized hematopathology testing for hematologic malignancies, integrating flow cytometry (including its proprietary ∆N:™ Difference from Normal methodology), cytogenetics, FISH, molecular analysis, next-generation sequencing, and FACS-based cell sorting. Testing is delivered to healthcare providers, hospitals, and biopharmaceutical sponsors nationwide under CAP/CLIA accreditation with turnaround times of 24–48 hours for flow cytometry and under 5 days for cytogenetics.

Product overview

Hematologics is a diagnostic service laboratory offering an integrated portfolio of hematopathology testing services. The core offerings include the proprietary ∆N:™ (Difference from Normal) Flow Cytometry, Measurable Residual Disease Testing, Next Generation Sequencing panels (AML, MDS, MPN), Cytogenetics, Molecular Analysis (DNA/RNA PCR and Sanger sequencing), and Fluorescence in Situ Hybridization (FISH). These services are complemented by Clinical Cell Sorting & Cell Enrichment and Specimen Archiving capabilities. All testing is performed in-house with results delivered through the Hematolinx and Provider Portal patient portals. The company pioneered multi-dimensional flow cytometry and emphasizes technology integration across disciplines for comprehensive diagnostic reporting.

Differentiator

Problem solved

Functional benefit

Products and services

• ∆N:™ (Difference from Normal) Flow Cytometry
• Measurable Residual Disease (MRD) Testing
• Next Generation Sequencing (NGS)
• Cytogenetics
• Molecular Analysis
• Fluorescence in Situ Hybridization (FISH)
• Clinical Cell Sorting & Cell Enrichment
• Specimen Archiving

Quantifiable outcome

• 30% abnormality detection rate vs 15-20% industry average in cytogenetics
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• European LeukemiaNetcoreStrategic or Co-development PartnerHematologics is a founding member of the European Leukemia Network MDS Flow Cytometry Working Group, contributing to standardization of flow cytometry in myelodysplastic syndromes.
• Southwest Oncology Group (SWOG)coreStrategic or Co-development PartnerCulture times and techniques developed to standards set by SWOG for cytogenetic certification required for patients going into clinical trials.
• Children's Oncology Group (COG)coreStrategic or Co-development PartnerCulture techniques developed to standards set by COG for cytogenetic certification required for patients going into clinical trials.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Versiti: Blood health and diagnostics organization with strong flow cytometry, HLA, and genomic capabilities. Active Hematologics partner on the HLA LOH assay and a partial competitor in hematology diagnostics services to academic and community providers.
• Foundation Medicine: Molecular diagnostics company focused on comprehensive genomic profiling for oncology, including heme malignancies. Adjacent peer in the molecular heme-oncology diagnostic space, serving biopharma and academic oncology.

Broad incumbents

• Quest Diagnostics: One of the two largest US clinical reference labs, offering broad hematology/oncology and molecular testing including flow cytometry and MRD panels via its Quest Advanced oncology franchise. Competes with Hematologics on routine hospital send-outs rather than on deep specialty heme expertise.
• Mayo Clinic Laboratories: Reference laboratory of Mayo Clinic offering extensive hematology, flow cytometry, cytogenetics, and molecular hematopathology services to providers and biopharma. A specialty-comparable peer with brand-level clinical credibility similar to Hematologics' reputation.
• Laboratory Corporation of America (LabCorp): Second major US reference lab with extensive hematopathology, cytogenetics, and molecular oncology offerings, including integrated oncology solutions for hospitals and biopharma. Broad incumbent rather than specialty competitor.

Direct peers

• NeoGenomics Laboratories: Public specialty oncology/hematopathology reference lab offering flow cytometry, cytogenetics, FISH, molecular, and NGS services to clinicians and biopharma. Directly comparable business model and test menu to Hematologics, with significantly larger scale and public-market capital.
• ARUP Laboratories: Academic-affiliated (University of Utah) reference lab with deep hematopathology, flow cytometry, and molecular genetics expertise serving hospitals and oncology centers nationwide. Closely comparable operating model to Hematologics as a specialty reference lab.
• Adaptive Biotechnologies: Developer of the FDA-cleared clonoSEQ assay for MRD detection in ALL, AML, and MM using next-generation sequencing. A direct competitor in the MRD testing market Hematologics anchors with its ∆N:™ flow MRD assay.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hematologics