April 16, 2014 09:00 ET

LifeLabs Medical Laboratory Services and Contextual Genomics Announce Co-Marketing and Testing Agreement

TORONTO, ONTARIO and VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 16, 2014) - LifeLabs Medical Laboratory Services ("LifeLabs") and Contextual Genomics announced today an agreement to co-market and offer tests for cancer and other genetic and genomic tests. This partnership reinforces LifeLabs' leadership role in genetic testing across Canada and Contextual Genomics' important role in molecular test development and interpretation. Genetic and genomic testing are the fastest growing segments in laboratory medicine and form the underlying basis for "personalized medicine". With this partnership LifeLabs and Contextual Genomics have agreed to work together to bring genetic tests for cancer and other genetic-based conditions to physicians and patients across Canada.

"LifeLabs is committed to building a healthier Canada through the delivery of exceptional diagnostic testing, analysis, information and service. We are delighted to partner with Contextual Genomics, a Canadian company with extremely talented scientific leadership and unique medical informatics capabilities," said Sue Paish, President and CEO of LifeLabs. "Genetic testing is a significant element of the future of health care. Together with Contextual Genomics, LifeLabs will help Canadians benefit from this growing and exciting area in an effective and efficient way."

"Contextual Genomics delivers actionable information to patients and their caregivers based on a patient's unique DNA blueprint. This information makes a difference in people's lives," said Chris Wagner, President and CEO of Contextual Genomics. "LifeLabs' commitment to delivering innovative testing services to Canadians made them a natural partner for Contextual Genomics. Both companies share the same vision of delivering the highest quality testing and information to people regardless of where they live."

About LifeLabs:

LifeLabs is a Canadian-owned company and is the country's largest provider of community laboratory services with over 50 years of experience providing laboratory testing services to help health care providers diagnose, treat, monitor and prevent disease in patients. In communities across British Columbia and Ontario, LifeLabs delivers cost-effective, convenient access to laboratory testing services which are essential for optimal outcomes in health care. LifeLabs employs approximately 5,400 professionally trained staff and delivers over 100 million laboratory tests, serving 19 million patients annually. In 2013, LifeLabs acquired BC Biomedical in British Columbia and CML HealthCare in Ontario making LifeLabs the largest community laboratory in Canada. LifeLabs is indirectly owned by OMERS Administration Corporation, whose interest is managed by Borealis Infrastructure.

About Borealis Infrastructure Management Inc.

Borealis is a leader in direct infrastructure investing with over a decade of investment experience. Borealis manages approximately CAD 10 billion in OMERS equity capital through investments in a diversified portfolio of large-scale infrastructure assets exhibiting stability and strong cash flows, in sectors including energy, transportation and government regulated services. It has offices in Toronto, London and New York. Borealis is the infrastructure investment arm of OMERS, one of Canada's largest pension funds with over CAD 65 billion in net assets.

About Contextual Genomics:

Contextual Genomics believes that DNA analysis significantly improves human health and geography should not be a barrier to the benefits of using molecular information to guide patient decisions. The company's first products are actionable molecular tests that guide diagnosis and treatment of cancer.

This release contains forward-looking statements that are not based on historical fact. These forward-looking statements involve risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on such forward-looking statements.

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