Genetic testing services provider NeoGenomics has completed the acquisition of GE Healthcare's Life Sciences business unit Clarient and its wholly-owned subsidiary Clarient Diagnostic Services, for around $275m.
The deal was first announced by both firms in October 2015.
As part of the deal, NeoGenomics has paid $80m in cash, as well as offered $110m in preferred stock and 15 million shares of its common stock.
Clarient Diagnostic Services provides comprehensive cancer diagnostic testing to hospitals, physicians and the pharmaceutical industry.
Based in Aliso Viejo of California and Houston of Texas, Clarient has around 415 employees and reported about $127m in 2014.
The deal is expected to expand NeoGenomics cancer diagnostic testing services to hospitals and physicians across the US.
NeoGenomics chairman and CEO Douglas VanOort said: "We are very pleased to welcome each of our new employees to the NeoGenomics family, and to begin to add Clarient’s outstanding capabilities to our strong service offering.
"The support of Clarient’s employees and clients for our acquisition has been tremendous, and we appreciate the overwhelming support for the transaction by NeoGenomics shareholders."
NeoGenomics provides cancer genetic testing services, including cytogenetics, fluorescence in-situ hybridization (FISH), flow cytometry, immunohistochemistry, digital and anatomic pathology and molecular genetic testing.
Image: NeoGenomics has acquired GE Healthcare’s Life Sciences business unit Clarient and its wholly-owned subsidiary Clarient Diagnostic Services. Photo: courtesy of stockimages / FreeDigitalPhotos.net.