NEW YORK, Aug. 26 (GenomeWeb News) – Telecommunications company Direct Wireless Communications of Dallas said today that it plans to acquire genomics consultancy The Barnhill Group as part of a strategic plan to relaunch later this year as a diagnostic and drug discovery firm.
Direct Wireless signed a binding letter of agreement to acquire The Barnhill Group of Savannah, Ga., founded by computational biologist Stephen Barnhill. Barnhill holds several patents in artificial-intelligence-based machine learning techniques and diagnostic discovery and was previously founder and CEO of Barnhill Clinical Laboratories, which was acquired by Quest Diagnostics. He will serve as president and medical director of the company, which will be renamed Discovery Health Corporation.
Direct Wireless has spent the past two years developing a new wireless communications platform, but “the negative events that have occurred in the communications industry have made it difficult for us to advance our communications platform,” said Bill Williams, CEO of Direct Wireless, in a statement. “Therefore, we have decided to change our strategic direction to health discovery. The acquisition of The Barnhill Group immediately places our company in the rapidly growing field of diagnostic and drug discovery and helps us build shareholder value immediately."