Thursday, September 29, 2022
ACT Laboratories, Inc., a prominent lab testing company specializing in the cannabis and hemp markets, has announced its plans to acquire CDX Analytics, LLC ("CDX") of Massachusetts. The acquisition is aimed at expanding ACT Labs' geographical presence and strengthening its position as a scientific leader in the industry.
ACT Labs aims to become the leading multistate cannabis lab testing partner for cultivators, processors, dispensaries, and brands. By joining forces with CDX, the company believes it can capitalize on its investments in new technology and better anticipate regulatory trends. This expansion will also allow ACT Labs to leverage standardized best practices across its network, ensuring a more consistent and predictable supply of high-quality products and brands.
CDX Analytics, known for its reputable lab testing services in Massachusetts, recently increased its testing capacity to meet the growing demand from customers. With this acquisition, ACT Labs will operate in six states: Illinois, Massachusetts, Michigan, New York, Ohio, and Pennsylvania. Additionally, ACT Labs is actively considering other potential markets for future expansion and aims to be operational in seven states by early 2023.
Dr. Brian J. Strasnick, CEO & President of CDX Analytics, expressed enthusiasm about joining ACT Labs. He highlighted the need for consultative solutions spanning testing, quality, formulation, and facility monitoring to optimize processes, mitigate risk, and accelerate time to market. By joining ACT Labs, CDX Analytics can bring these comprehensive solutions to their customers in Massachusetts.
The completion of the acquisition is pending regulatory approval in the Commonwealth of Massachusetts.
