Psychemedics Corporation PMDI

Company Overview

Psychemedics Corporation (NASDAQ: PMDI) is a U.S.-based clinical laboratory company specializing in hair-based drug testing services. The company operates within the drug testing and diagnostics industry, serving employers, government agencies, and other organizations that require substance abuse detection and monitoring. Psychemedics is primarily known for its proprietary hair testing technology, which is positioned as an alternative to urine and oral fluid testing by offering a longer detection window for drug use.

The company’s core revenue is generated from laboratory testing services, including pre-employment, random, and post-incident drug testing programs. Psychemedics serves corporate clients, transportation companies, law enforcement agencies, and international customers through distributors. Founded in 1987, the company pioneered the commercial application of hair analysis for drug detection and became publicly traded in 1996, establishing itself as one of the earliest and most recognized providers in this niche segment.