International Genome Center Franchise

What is the basic concept behind setting up an International Genome Center?

Genomics is affecting every aspect of modern healthcare and will lead to truly personalized medicine. The basic concept behind setting up International Genome Centers in various countries is to be able to address all modern needs of healthcare providers in regards to genomics. A Clinic or Reference Laboratory will essentially be linked to the Genome Center, as we have already successfully demonstrated in Korea.

What does setting up an International Genome Center Franchise entail?

Franchising today is one of the most common business models which has been adopted by some of the most well-known brands. In the US, more than 65% of the service industry revenue is achieved through 'franchised' outlets. A franchisor supports the clinic/reference lab (the franchisee) with its brand name and vast industry/business knowledge. As a result, a typical franchisee has best of both the worlds, the ability of expanding its own business and the support of a well-known large organization. Setting up a genome center on a franchisee basis requires entering into an arrangement with Diagnomics, Inc. as the Franchisor. Diagnomics will provide the technical know-how and the franchisee will operate the business.

Diagnomics and the Eone Life Science Institute in Korea will provide the International Genome Center franchisee with a constant stream of novel clinical products that can be brought directly into the clinic. We have several highly desirable products through the clinical trials and ready to be marketed internationally. Please contact us for more information.

Who is an ideal franchisee for setting up a Genome Center?

Consistent superior quality of service is the cornerstone to success for an International Genome Center. Diagnomics therefore selects each franchisee very carefully. A proper due diligence is carried out before finalizing a franchisee contract.

An ideal franchisee will have the following characteristics:

• The ideal candidate should be a large reference laboratory or clinic with many patients
• The ideal franchisee should have a prior track record of running a successful business venture
• The franchisee should be able to devote sufficient time and resources to building and running the Genome Center
• The franchisee should have an excellent track record and operate its current business with the highest integrity
• The ideal franchisee should be highly interested in moving healthcare sector forward towards personalized medicine
• Hospitals and institutions looking purely for quick returns or productive utilization of their idle space or building are not necessarily the right candidates and are likely to be discouraged

What is the first step towards becoming a Franchisee for an International Genome Center?

Any reference laboratory or hospital interested in becoming a franchisee can contact Diagnomics or the EONE - Diagnomics Genome Center (EDGC) in Korea. Contact details can be found in the Contact Us section of both websites (Diagnomics and EDGC). On receiving the required information, the prospective franchisee will be required to fill and submit a detailed Franchise Application Form. A team from Diagnomics or EDGC will then meet with the upper management of the prospective franchisee and discuss details of the business. It will also assess the franchisee’s ability to set up and run an International Genome Center. Once we are satisfied with our assessment, the prospective franchisee must sign the Franchise Agreement and pay the initial license fee. Diagnomics and its investors can also help with finding the right investment vehicle / investors for the particular international franchise. Please contact us for details.

How long would it take to start operations from the time of signing the Franchisee Agreement?

The time taken from signing the Agreement to commencing operations depends to a large extent on a few critical factors like, the selection of a suitable site, tying up finances and completing licensing requirements. Also, the time required for constructing a ground up Genome Center is typically longer than for establishing it inside existing clinics. If there are no major issues, it is easily possible to commence operations within a time frame of 8-10 months from the date of signing the agreement.