Myriad Genetics has agreed to acquire genetic testing and DNA analysis services provider Counsyl in a deal worth around $375m.
Image: Counsyl clinical laboratory. Photo: courtesy of Counsyl, Inc.
Counsyl operates advanced clinical laboratory, which provides Foresight carrier screen, Prelude prenatal screen and Reliant cancer screen tests, as well as supporting services through Counsyl Complete suite of solutions.
The company offers significant information, which guides women and their families to take critical and timely health decisions.
The acquisition will allow Myriad to enter into reproductive testing market and expand its women’s health product offerings.
Myriad Genetics president and CEO Mark Capone said: “By offering Counsyl’s best-in-class reproductive testing products in conjunction with Myriad’s leading hereditary cancer tests, we are well positioned to be the premier women’s health genetic testing company.”
Counsyl Foresight carrier screen test will help identify couples who are at elevated risk of passing inherited conditions to their children.
Prelude prenatal screen is a non-invasive prenatal screen test, which uses cell-free DNA (cfDNA) to find out whether a pregnancy is at an increased risk for common chromosome abnormalities such as Down syndrome.
Reliant cancer screen test uses next generation sequencing (NGS) to identify genetic mutations, which may cause an increased risk of cancer.
Counsyl Complete is a proprietary suite of solutions designed to support healthcare providers and their patients across the genetic screening process.
Subject to customary closing conditions and regulatory approvals, the deal is expected to complete in the fiscal first-quarter 2019.
Counsyl CEO Ramji Srinivasan said: “We are excited to be joining the global leader in personalized medicine to create the largest women’s health genetic testing company in the world.
“As our physicians increasingly look for a single source of genetic testing, we can leverage our collective strengths to provide the highest quality genetic tests with a seamless customer experience.”
Myriad Genetics is a personalized medicine firm, which discovers and commercializes molecular diagnostic tests across six major medical specialties.