—Company Also Recognized as Growth and Innovation Leader for the Second Year in a Row in 2024 Frost RadarTM for Global Laboratory Information Management Systems (LIMS) for the Life Sciences Market—
Somerset, NJ – September 12, 2024 –
– LabVantage Solutions, Inc., the leading provider of laboratory informatics solutions and services, including purpose-built LIMS platforms enabling rapid deployment at reduced costs, today announced it has been awarded the prestigious Company of the Year Award in the Global Laboratory Information Management Systems (LIMS) Industry by Frost & Sullivan. This recognition highlights LabVantage’s leadership in visionary innovation, performance, and customer impact, affirming the company’s commitment to delivering cutting-edge, customer-centric solutions across industries.
The award, part of Frost & Sullivan’s Best Practices Awards series, acknowledges companies that demonstrate excellence in growth and innovation. LabVantage has been recognized for excelling in both dimensions, leveraging its visionary approach to address unmet needs in laboratory informatics while maintaining a strong focus on customer satisfaction and service experience. Over nearly four decades, the company has evolved from a specialized LIMS provider into a vertical Software-as-a-Service (SaaS) platform provider for all laboratory-related digital needs of various industries, including pharmaceuticals, biotechnology, food and beverage, oil and gas, contract testing, public health labs, forensics, and government.
“LabVantage distinguishes itself with an extensive product lineup, smooth integration capabilities, and dedication to facilitating digital transformation in laboratories,” said Lucila Martin, Healthcare & Life Sciences Research Analyst at Frost & Sullivan. “Given the early and strategic growth of SaaS as part of its business, the company enhances its ability to capitalize on LIMS market trends and opportunities.”
Additionally, LabVantage has been named a leader, for the second consecutive year, in the 2024 Frost Radar™ for Global LIMS for the life sciences industry – providing yet another testament to its continued leadership and adaptability in a rapidly evolving sector. In the Radar, Frost & Sullivan evaluated 50 LIMS vendors, plotting the top 14 for their advanced capabilities in interoperability, scalability, and configurability. Companies on the Radar adopt a robust vision focused on growth and rigorous innovation that promotes seamless integration of new technologies, identifies the critical needs of each area, and offers distinctive features for each use of their solutions. A leading player in this Radar analysis, LabVantage scored a high 4.6 on the Innovation index, and similarly, a 4.5 on the Growth index.
“It is a great honor to be awarded Company of the Year in the Global LIMS industry by an esteemed industry advisory firm such as Frost & Sullivan,” said Mikael Hagstroem, CEO of LabVantage Solutions. “This recognition is a result of the dedication and passion that my 1223 colleagues put into changing from a product-centric to a truly client-focused company with a focus on delivering client impact. Earning the Frost Radar recognition two years in a row is a humbling and rare feat for any company – for us, it underscores how closely we partner with our customers to drive innovation. We are proud that our efforts to listen to and innovate based on customer feedback are being recognized, validating our commitment to delivering impact and partnering with our clients for the betterment of the human condition.”
