Myriad Genetics sells prenatal testing business to Labcorp for $210 million
Myriad Genetics announced it will divest its Prenatal Health testing division to Labcorp, receiving $210 million in cash.
The transaction includes Myriad's Prequel, Foresight, SneakPeek and FirstGene test portfolios, as well as inventory valued at closing.
Labcorp says the acquisition expands its specialty testing capabilities and positions it to compete with Natera, BillionToOne and Quest Diagnostics, following a recent $722 million purchase of women's health and urology assets from BioReference Health.
Myriad CEO Sam Raha noted the deal will be accretive to revenue growth, profitability and will strengthen the balance sheet to fund its cancer care initiatives.
This writeup was produced by pharmadog from original reporting by Fierce Biotech.
Original headline: “Myriad Genetics to sell off Prenatal Health testing business to Labcorp”
read at Fierce Biotech ↗
comments(0)
5-min edit window · permanent after that