Labcorp wins bid for select assets of Invitae

April 26, 2024—Labcorp announced it will purchase select assets of genetics company Invitae for $239 million. The company expects the transaction to generate about $275 to $300 million in annual revenue, with the majority in specialty testing areas such as oncology and rare diseases. Through the transaction, which requires court approval pending a hearing scheduled on May 6, Labcorp will acquire assets being auctioned through a voluntary bankruptcy protection process. The transaction is expected to close in the third quarter of this year.