Dx&Vx, a Korean molecular diagnostics company, said Wednesday that it recorded 8.6 billion won ($ 6.4 million) in sales in the third quarter, up 82.8 percent from the same period in 2021.

The company also registered 412.2 million and 620.8 million won in operating and net profit, down 56.5 and 67.8 percent from a year earlier, respectively.

According to the company, the diagnostic business broadened its business area and improved profitability through reorganization.

The bio-healthcare business as a new growth engine continued to expand as well, contributing to record-high sales in the third quarter, the company said.

Dx&Vx said exports of infant healthcare products developed by the Microbiome Research Institute to China were steadily growing, too.

The company plans to launch 20 independent branded products for preventing and treating various diseases in Korea and China by the first half of next year.

The company has also laid the foundation for future growth by acquiring Korea Bio Pharm for 15 billion won to begin the contract development and manufacturing organization (CDMO) business and establishing a Chinese hospital and clinic and distribution network under a subsidiary in China.

“Based on profitability and business continuity, we aim to become a bio healthcare company that provides personalized total medical diagnosis solutions,” Dx&Vx CEO Park Sang-tae said. “To enhance future shareholder value and lay the foundation for long-term growth, the company plans to steadily secure overseas tangible and intangible assets and expand investment in R&D and clinical trials for next-generation new drug development and new technology.”