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NeoGenomics Acquires Human Longevity's Oncology Division for $37M

NEW YORK - NeoGenomics announced Friday it has acquired the oncology division assets of genome sequencing company Human Longevity for $37 million.

The purchase was financed via available cash on hand.

Human Longevity's oncology division performs next-generation sequencing services for pharmaceutical customers and generated about $10 million in revenue last year. NeoGenomics said the company expects the oncology division to be slightly dilutive to 2020 adjusted earnings.

"This acquisition will expand our Pharma Services menu to include germline, whole exome and whole genome sequencing," said NeoGenomics Chairman and CEO Douglas VanOort in a statement. Next-generation sequencing has been a focus for the Fort Myers, Florida-based firm as it grows its business.

The acquisition is NeoGenomics' largest since it bought Genoptix in October 2018 for about $127 million.

In 2015, Human Longevity collaborated with Personal Genome Diagnostics to provide genomic sequencing services and access PGD's cancer genome analysis panels. It also licensed the PGDx Enterprise Solution platform, which allows laboratories to conduct their own advanced cancer genomic testing with next-generation sequencing.