Ming Hsieh on mergers & acquisitions
From ECE Pioneer - Ming Hsieh · · USC Electrical and Computer Engineering
“3M acquired the biometric company and I started a new journey into life sciences and fighting cancer — I didn't realize how much tougher that market and problem space would be.”
On , Ming Hsieh, Chairman & Chief Executive Officer at FULGENT GENETICS INC, spoke about mergers & acquisitions during ECE Pioneer - Ming Hsieh on USC Electrical and Computer Engineering.
About Ming Hsieh
Ming Hsieh, chairman and chief executive officer of Fulgent Genetics, spoke at a December 2024 event at the University of Southern California about his career and the company's growth. He said that when the COVID-19 pandemic began, Fulgent quickly shifted its capabilities to COVID-19 testing and became one of the top three companies in that market, generating more than $1.5 billion in cash from operations that he stated would be used to support cancer research. Hsieh also discussed his earlier work in biometrics, noting that a fingerprint identification system his company developed received a sole-source contract valued at about $500 million from the Department of Homeland Security. In a 2021 speech at the National Committee on U.S.-China Relations gala, Hsieh said he was a beneficiary of stable and collaborative U.S.-China relations, which he stated allowed him to change from a field farmer to a member of the National Academy of Engineering. He has also spoken about his philanthropic efforts, saying he has donated more than $100 million to support research, educational, and medical institutions. During a 2021 earnings call, Hsieh said the company expected revenue to nearly double in 2021 compared to the record revenue achieved in 2020.