ACT Labs Expands Northeast Footprint, Agrees To Buy CDX Analytics

ACT Laboratories said that the deal provides access to the Massachusetts market and beefs up its scientific leadership.

Cannabis testing company ACT Laboratories agreed to acquire another testing lab for an undisclosed price tag to support its expansion and beef up its scientific leadership.

ACT Labs said closure of the deal with CDX Analytics LLC, which is based in Salem, depends on regulatory approval in the Commonwealth of Massachusetts.

ACT Labs will be operational in six states after snapping up CDX:

  • Illinois
  • Massachusetts
  • Michigan
  • New York
  • Ohio
  • Pennsylvania

“Expanding our footprint not only enables us to take better advantage of our investments in new technology, but also allows us to better anticipate regulatory trends and leverage standardized, best practices across our network,” said Cornelius Merlini, acting CEO of ACT Labs and managing partner of Intrinsic Capital Partners.

“As we do, expansive testing capabilities will help ensure a more predictable supply of consistent, differentiated products and brands that fuel growth for our customers,” he said.

Additionally, ACT Labs will evaluate other key markets for organic expansion and could operate in seven states by early 2023, the company said.

“We’re excited to become part of such a strong team of chemists, microbiologists, researchers and senior leaders with extensive knowledge of the pharmaceutical industry,” said CEO & president of CDX Analytics Brian Strasnick.

CDX Analytics said that it recently doubled its testing capacity in its Massachusetts lab to meet growing customer demand. The lab provides testing services to both the medical and recreational cannabis markets in Massachusetts.

“The rapid growth and regulatory evolution of the cannabis industry will require a suite of consultative solutions that span testing, quality, formulation and facility monitoring to optimize processes, manage risk and drive speed to market,” Strasnick said.

“As part of ACT Labs, we will bring all of these to our Massachusetts customers.”

Adam Jackson

Adam Jackson covers the cannabis industry for The Green Market Report. He previously covered the Missouri statehouse for The Columbia Missourian and has written for The Missouri Independent. He most recently covered retail, restaurants, and other consumer companies for Bloomberg Business News. You can find him on Twitter @adam_sjackson and email him at adam.jackson@crain.com.


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