The company plans to use the new funding, which will come from the sale of convertible senior notes due 2028, to support unspecified future growth initiatives.
The firm plans to raise $25 million in a public offering of shares of its common stock and $75 million in a senior notes offering to institutional buyers.
The company said that dried blood-spot sampling improves access to HIV diagnostic testing and care, particularly among HIV-infected people living in remote areas.
The company plans to use the funds for general corporate purposes, including, together with cash on hand, to repay borrowings under its term loan facility.
The firm anticipates using the proceeds for working capital and general corporate purposes, and to pay the net cost of convertible-note hedge transactions.