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GenMark Diagnostics (Nasdaq: GNMK) | Company Profile, History, Competitors


GenMark Diagnostics (NASDAQ: GNMK) is a molecular diagnostics company and one of the leaders in multiplexed molecular diagnostic instruments and consumables. The company was founded in 2010 and headquartered in Carlsbad, CA.

GenMark was founded in 1993 by a team led by Jon Kayyem, a PhD student at California Institute of Technology. GenMark produces a molecular diagnostic analyzer that allows laboratories to diagnose multiple diseases using a single test.

Business Overview

GenMark has a proven technology in multiplexed molecular diagnostics, which helps laboratories rapidly diagnose a patient with a single test the runs multiple sub-analyses in parallel. GenMark currently has two analyzers XT-8 and ePlex.

GenMark's original product is its XT-8 analyzer that offers multiplex testing and random access using its eSensor technology. eSensor technology uses electrochemical signals fast and accurate detection of up to 72 biomarkers in a single extracted and amplified sample within 30 minutes. Because eSensor uses electrochemical detection, samples require less preparation.

The XT-8 Workstation is a compact diagnostic testing system that features an integrated touch screen computer. It has the capacity to handle 24 independent test cartridges and each cartridge and up to 72 separate biomarkers can be detected per cartridge. The XT-8 cartridges are disposable self-contained units with a sample compartment and hybridization chamber. The analyzer can test for respiratory viral diseases, cystic fibrosis, thrombophilia, warfarin sensitivity and Hepatitis C genetyping.

GenMark's newest product is its ePlex analyzer which received FDA approval in 2017. The primary enhancement offered by NexGen is the integration of the nucleic acid extraction and amplification steps with the eSensor detection technology. This will allow technicians to insert raw samples and receive test results without any intermediate steps.

The ePlex workstation consists of an integrated touch screen computer that can handle up to 24 independent cartridge tests. The analyzer can test for respiratory pathogens

    Life Sciences and Applied Markets Segment

    LSAG is Agilent's largest segment. Agilent sells instruments and related software for Mass Spectrometry (MS), Liquid Chromatography (LC), Gas Chromatography (GC), Spectroscopy & Vacuum, and Software & Informatics. These technologies are routinely used in testing of food safety, monitoring, water supply testing, discovery and development of drugs. Agilent has 23,000 total customers.

    Manufacturing & Distribution

    GenMark manufactures their proprietary test cartridges and reagents at their Carlsbad facility.

    The manufacturing of their ePlex instrument is outsourced to Plexus Corp.

    As of 2017, GenMark has over 100 US and foreign patents.


    GenMark's main customers are laboratories and research institutions. They currently have 1,000 domestic customers. the largest customer is Laboratory Corporation of America.


    GenMark competes with other multiplex molecular diagnostics platforms including FilmArray (bioMerieux), Verigene (Luminex), Unyvero (Curetis) and Pheno (Accelerate).


    The company was founded in 1993 by a team led by Jon Kayyem, a PhD student at California Institute of Technology. The product was an electronic sensor for DNA detection.

    In 2009, Dr. Kayyem and Christopher Gleeson, former CEO at Ventana Medical Systems, joined together to form Osmetech, now called GenMark. In 2010, the company went public.


    Hany Massarany (CEO): Hany Massarany serves as CEO since 2011. Prior, he was President of Ventana Medical Systems, a manufacturer of reagent systems. He also worked at Bayer Diagnostics and Chiron Diagnostics. He has a Bachelors degree from Monash University and MBA degree from University of Melbourne.

    Scott Mendel (CFO): Scott Mendel serves as CFO since 2014. Prior, he was CFO of The Active Network, an event management software company. He also worked as CFO of GE Healthcare's Healthcare IT division.


     $ USD in millions    2013    2014 2015 2016 2017
     Revenues $27 
     Gross Profit $12 
     Operating Profit($35)($39) ($42) ($49)($60)
     Net Income($34)
    GenMark Diagnostics, Inc.
      Type     Public
      Ticker     NASDAQ: GNMK
      Industry Healthcare
      Founded 2010
      Headquarters Carlsbad, CA
      Customers 1,000
    $53mm (2017)
      Employees 308 (2017)