Mergers & Acquisitions ·
Labcorp agrees to acquire Myriad's prenatal health business for $210M in cash
MYGNMyriad Genetics Inc
Myriad Genetics has entered into a definitive Asset Purchase Agreement with Laboratory Corporation of America (Labcorp) to sell its prenatal health testing business. The transaction includes the Foresight Carrier Screen, Prequel Prenatal Screen, FirstGene 4-in-1 Prenatal Screen, and SneakPeek Early Gender Test laboratory developed tests for $210 million in cash, plus the value of inventory at closing. Labcorp has agreed to make employment offers to certain employees of the business. The deal is subject to customary closing conditions, including Hart-Scott-Rodino antitrust clearance and regulatory approvals, with a termination fee of $10.5 million if regulatory clearances are not obtained. Myriad expects the transaction to be accretive to revenue growth and profitability while strengthening its balance sheet. Labcorp anticipates adding approximately $160 million in year-one revenue. The transaction is expected to close by early 2027. Myriad Genetics develops and commercializes molecular diagnostic tests for cancer care and precision medicine.