Asia Genomics: Making genetic testing a way of life - part (A) and part (B)

• Main Authors: SUN, Millie, WONG, Adina
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2017
• Subjects: Business Models; Corporate Strategy; Healthcare; Genetic Testing; Marketing Strategy; Entrepreneurship; Asian Studies; Genetics and Genomics
• Online Access: https://ink.library.smu.edu.sg/cases_coll_all/189; https://cmp.smu.edu.sg/case/1771
• Institution: Singapore Management University

Cases (A) and part (B) can be used as a pair to discuss two different business models for the same business. The first part (A) of the case study refers to Asia Genomics Holdings, founded by Dr. Wong Mun Yew in 2014. Asia Genomics considered itself a pioneer in genetic testing in Asia with the aim of providing safe, accurate and timely genetic testing for people with regard to commonly occurring cancer, and foetal health conditions. The technology it used was brought over from the US. The tests were simple to administer, client samples were securely handled, and generated reports that would include recommendations for clients and their doctors on next steps after diagnosis. Part B of the case is about Imagene Labs, which was created in 2016 as a new sister entity under Asia Genomics Holdings to provide genetic testing for wellness in fitness, nutrition and skin. It operated independently from the Asia Genomics business that carried out genetic testing for cancer. The recommendations for clients would come with customised nutritional supplements or facial serums to target their specific genetic conditions. Clients who had tried the product were generally pleased with the depth of the report findings and the results of the customised products. Imagene Labs had been seeing relatively quick uptake of their products and interest in the consumer market. Although Asia Genomics and imagene Labs had clear value propositions to offer their target markets, marketing was still the biggest challenge. Beyond that, both businesses had to plan a strategy for the development of their respective future business models. This case targets participants who are interested in understanding the organisational capabilities for implementing a business model in the healthcare industry. Participants can use the business model canvas to understand the integral components of a business model, and to innovate an existing business model.