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NeoGenomics Completes Clarient Acquisition

NEW YORK (GenomeWeb) – NeoGenomics announced today it has completed its acquisition of Clarient from GE Healthcare's Life Sciences business.

The deal, which the cancer genetics testing provider first announced in October, has a purchase price of $80 million in cash, $110 million in preferred stock, and 15 million shares of NeoGenomics common stock, the company said in a statement. With the closing of the transaction, GE Healthcare now owns 32 percent of NeoGenomics. The company's board will also expand to include a new director from GE Healthcare, NeoGenomics added.

"We are very pleased to… begin to add Clarient's outstanding capabilities to our strong service offering," said NeoGenomics Chairman and CEO Douglas VanOort in a statement. "Clearly, the acquisition of Clarient is a major step forward in achieving our vision to become America's premier cancer testing laboratory."

Clarient, which is based in California and Texas, has about 415 employees and reported revenue of approximately $127 million in 2014, NeoGenomics said.