Chad Price's MAKO Medical Laboratories Listed as One of the Business North Carolina Top 125 Private Companies

Chad Price's MAKO Medical Laboratories Listed as One of the Business North Carolina Top 125 Private Companies

Daniel Hall 18/10/2024
Chad Price's MAKO Medical Laboratories Listed as One of the Business North Carolina Top 125 Private Companies

Business North Carolina (BNC) Top 125 Private Companies list highlights the most prominent privately held companies in North Carolina.

It offers a scientific snapshot of the state's thriving and diverse economy. The list includes companies from various sectors, from manufacturing and technology to healthcare and retail. This year, Chad Price’s MAKO Medical Laboratories has been listed among the top in its industry, placing at number 55. 

Companies that make the list are ranked based on revenue, growth, and overall market impact. The annual chart underscores the changing environment of North Carolina's business landscape. Most businesses are closely held or family-owned, although private equity firms back a growing number.

MAKO Medical: Ranked 55th In North Carolina

Chad Price’s MAKO Medical Laboratories secured an impressive rank of 55th on Business North Carolina's prestigious Top 125 Private Companies list. This achievement is a testament to the company's rapid growth, innovative medical diagnostics approach, and expanding influence in the healthcare sector. Securing a spot in the top half of the list places MAKO Medical Laboratories among some of the most successful private enterprises in North Carolina. 

It further highlights the company's contributions to the state's economy and the medical community. MAKO Medical Laboratories’ inclusion at this rank demonstrates the company's significant revenue growth, as the list is primarily based on company financials. In recent years, the business has diversified its services, expanding its testing capabilities beyond traditional laboratory tests to support new types of diagnostics. 

The testing company's ability to offer high-complexity tests focusing on accuracy, speed, and customer service has been crucial to its rise in North Carolina's competitive healthcare market. Additionally, MAKO Medical Laboratories has gained industry-wide recognition for its role in meeting urgent healthcare needs, especially during the COVID-19 pandemic, which spurred a surge in demand for reliable and fast testing services.

"MAKO Medical Laboratories was created for two reasons: The first was to fill a current void in the healthcare space," Chad Price, MAKO Medical Laboratories CEO. "The lab industry is dominated by two giants and the market was hungry for a third option." 

While filling a notable gap in the market was important to the founders, the business has now become known for its support of local charities and nonprofits. 

"The second reason was to make an impact in the local markets through social responsibility and outreach. MAKO is privately held which allows the company to use a significant portion of its profits to support local charities, non-profits, military programs, and missionaries overseas,” says Chad Price, MAKO Medical Laboratories CEO.  

“Today, we support more than 300 nonprofits and charities, we only hire Military Veterans for our logistics team, we've donated more than 26 million dollars to charitable organizations, and we support more than 70 missionaries around the world," he continues.

Beyond financial success, MAKO Medical Laboratories' ranking reflects the company's strategic growth in partnerships, technological investments, and workforce expansion. With a foundation built on exceptional service and advanced laboratory operations, the business continues to attract high-profile clients, including hospitals, clinics, and state health departments. Its dedication to quality, innovation, and community engagement supports this growth.

The Rise of MAKO Medical Laboratories

Founded by Chad Price, MAKO Medical Laboratories has experienced exponential growth since its inception. Starting as a small laboratory, the company has expanded its reach to provide medical testing services across the United States. 

MAKO Medical Laboratories specializes in high-complexity laboratory tests, offering services to hospitals, physicians, urgent care facilities, and employers. The company's unique approach—using technology and providing top-tier customer service—has driven its rapid ascent in the healthcare sector. However, the founders do not have a healthcare background.

"The interesting part is that we entered the space without healthcare experience. So, we weren't classically trained, didn't go to medical school, or had no medical background. We didn't go to college for this," explains Chad Price, MAKO Medical Laboratories CEO. "So, we truly entered into healthcare with no experience at all. And that's a refreshing story for those frustrated right now in healthcare."

"We made a decision early on that our focus would be on them and building a support system around what they needed, not building support systems around what the hospital may need. And so, it was a decision we made early that we wanted specifically to carve out our business and be a rock for the independent providers," says Chad Price, MAKO Medical Laboratories CEO. 

Innovation and Community Impact

 

MAKO Medical Laboratories's commitment to innovation and community involvement sets it apart from its competitors. The company has heavily invested in state-of-the-art technology to ensure faster and more accurate testing results. 

The business' role during the COVID-19 pandemic, where it scaled operations to meet unprecedented testing demands, showcases its adaptability and commitment to public health. In addition to its operational success, MAKO is recognized for its philanthropic efforts, supporting various local charities and employing veterans as part of its workforce.

"We learned that flexibility and adaptability are key to overcoming challenges. The pandemic showed us that preparedness is not an option but a necessity. "The pandemic caught many off-guard, highlighting the need to have robust crisis management plans in place, both at individual and organizational levels," says Chad Price, MAKO Medical Laboratories CEO. 

During that vital period, the CEO and his co-founders learned a wealth of lessons. Like many modern enterprises, for example, they started allowing their employees to work remotely.

"We learned that flexibility and adaptability are key to overcoming challenges," says Chad Price, MAKO Medical Laboratories CEO. "We have witnessed that remote work is not only feasible but also brings numerous advantages such as increased flexibility, reduced commuting, and improved work-life balance." 

The Future of MAKO Medical Laboratories

MAKO Medical Laboratories' inclusion in the Business North Carolina Top 125 Private Companies list at number 55 reflects its past successes and future growth trajectory. 

This recognition places the company in the spotlight as one of the state's leading private enterprises, cementing its reputation and credibility in the healthcare industry. As the company continues to expand its operations and innovate within the medical diagnostics space, its listing reinforces its position as a dynamic and fast-growing force in the market.

For MAKO Medical Laboratories, being listed among North Carolina's top companies means enhanced visibility, which could attract more clients, partners, and even top talent. The company has shown a commitment to driving advancements in healthcare technology, and this recognition only serves to further its momentum in becoming a national leader in laboratory testing. 

Plans for MAKO Medical Laboratories include expanding its testing services and exploring new markets, both domestically and internationally. The company has a strong emphasis on technological integration. It aims to streamline the diagnostic process further to increase efficiency and accuracy across its testing portfolio.

Conclusion

This latest recognition represents a validation of the company's reliability and trustworthiness for MAKO Medical Laboratories’ customers. Being ranked 55th reassures clients that they are partnering with a company that excels in service and maintains financial stability and growth, ensuring long-term viability

Customers can expect MAKO Medical Laboratories to continue investing in cutting-edge technology, faster turnaround times, and expanded service offerings. This will allow North Carolina's healthcare providers to offer enhanced care to their patients. The listing also signals to potential clients that MAKO is a trusted medical diagnostics provider with a proven track record of success and innovation.

In the coming years, MAKO Medical Laboratories's customers will benefit from its ongoing focus on personalized service, faster and more comprehensive testing solutions, and a continued dedication to supporting its communities. 

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Daniel Hall

Business Expert

Daniel Hall is an experienced digital marketer, author and world traveller. He spends a lot of his free time flipping through books and learning about a plethora of topics.

 
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