Oct. 26, 2018—NeoGenomics has entered into a definitive agreement to acquire Genoptix for $125 million in cash and 1 million shares of NeoGenomics common stock.
“The acquisition of Genoptix enhances NeoGenomics’ leadership in the oncology test market, significantly expanding our coverage of oncology practices, increasing our customer reach, and leaving us better positioned for growth,” Douglas M. VanOort, NeoGenomics’ chairman and CEO, said in a press release. “With what we believe to be the most comprehensive oncology test menu in the country and reach across all distribution channels, the combined company will be uniquely positioned in the oncology test market.”
The acquisition will leverage the companies’ complementary services—NeoGenomics’ comprehensive test offering, broad portfolio of managed care and GPO contracts, and national laboratory infrastructure and Genoptix’s customized consults and reports and experience serving community oncologists. “With deep relationships across all customer segments, NeoGenomics is positioned to better coordinate oncology testing between oncologists and pathologists within the community to improve patient care,” the company said.