Summary: Labcorp has acquired select assets from Invitae to enhance its genetic testing technology and improve personalized care across oncology and rare diseases.

Takeaways:

  1. The acquisition strengthens Labcorp’s position in genetic testing by integrating Invitae’s advanced technology.
  2. The expanded capabilities will improve patient diagnosis, treatment regimens, and clinical trials in oncology and rare diseases.
  3. The collaboration aims to deliver comprehensive genetic insights, enhancing personalized medicine and health outcomes.

Labcorp, a global provider of innovative and comprehensive laboratory services, announced the completion of its acquisition of select assets of Invitae, a medical genetics company. Together, Labcorp and Invitae will support patients, clinicians and pharmaceutical partners across the continuum of care, including therapy development, patient diagnosis and personalized care.

“Labcorp and Invitae are on a shared mission to harness the power of genetic insights to transform medicine, deliver personalized care and improve health outcomes,” says Mark Schroeder, executive vice president and president of Diagnostics Laboratories and chief operations officer of Labcorp. “By adding Invitae’s cutting edge science and industry-leading experience, we will extend our leadership in genetic testing solutions with the most comprehensive offerings in areas such as oncology and select rare diseases. We are excited to welcome Invitae’s talented team to Labcorp and look forward to bringing genetic testing solutions to patients and physicians to improve health and improve lives.”

The acquisition expands Labcorp’s specialty testing capabilities and the company’s ability to utilize genetic data to improve clinical trials and treatment regimens in oncology and select rare diseases. By integrating Invitae’s genetic testing technology with Labcorp’s specialty testing capabilities, the company will offer a more complete set of insights for each patient – from testing to diagnosis to treatment.

For more information visit Labcorp.com/invitae.

Invitae is advised by Kirkland & Ellis LLP as legal counsel, Moelis & Company LLC as investment banker and FTI Consulting, Inc. as financial and communications advisor. Citi is serving as Labcorp’s financial advisor and Hogan Lovells and Kilpatrick Townsend are serving as Labcorp’s legal counsel.