NeoGenomics, Inc. (NASDAQ: NEO), a provider of cancer-focused genetic testing services, completed the acquisition of Clarient and its subsidiary Clarient Diagnostic Services, Inc.
The purchase price included $80m in cash, $110m in Preferred Stock, and 15m shares of NeoGenomics common stock.
Based in Aliso Viejo, California and Houston, Texas, Clarient provides comprehensive cancer diagnostic testing to hospitals, physicians and the pharmaceutical industry. A unit of GE Healthcare’s Life Sciences business, the company has approximately 415 employees and reported 2014 revenue of approximately $127 million.
GE Healthcare now owns approximately 32% of NeoGenomics. In conjunction with the deal, addition, a new director from GE Healthcare will join the Board of Directors of NeoGenomics.
Led by Chairman and CEO Mr. Douglas VanOort, NeoGenomics provides cancer genetic testing services through its network of CLIA–certified clinical laboratories. Testing services include cytogenetics, fluorescence in-situ hybridization (FISH), flow cytometry, immunohistochemistry, digital and anatomic pathology and molecular genetic testing.
The company has laboratories in Nashville, TN; Aliso Viejo, Irvine, Fresno and West Sacramento, CA; Houston, TX; and Tampa and Fort Myers, FL.
FinSMEs
03/01/2015