The company said it saw record-setting growth in new products in fiscal 2018 with increasing reimbursement adding to its hereditary cancer business.
Myriad said that it will fund the $375 million acquisition with a combination of cash, common stock, and funds from its revolving credit facility.
The $375 million deal marks the integration of Myriad, a leader in the hereditary cancer genetic screening market, with Counsyl, a leader in reproductive genetic screening.
Myriad will merge Counsyl’s reproductive tests with its preventive care business unit into a new business unit called Myriad Women’s Health.
Researchers from the molecular diagnostics firm said their screen could identify a range of variant types to boost the identification of at-risk couples.
The genetic testing firm can now offer its Prelude noninvasive prenatal test to residents in New York State.
The new funding comes from life sciences investment firm Perceptive Advisors. Home Care Assistance CEO Lily Sarafan has also joined Counsyl's board.
Under an agreement, Angsana's network of physicians in Hong Kong will be able to order Counsyl's expanded carrier screening test.
Counsyl believes its data is robust, while Natera has called the methodology and conclusions "gratuitously wrong." Both published opposing response letters this week.
The partners will commercialize Counsyl's Expanded Carrier Screening Test as preconGen, beginning in Spain, Italy, Portugal, Switzerland, and Colombia.
Consulting company McKinsey says diagnostics companies will have to combine genomic data analysis, electronic medical records, effective reimbursement strategies, and regulatory compliance in order to win.
A new report has found that researchers in Africa are still heavily dependent on funding from organizations in the US, Europe, and China, Nature News says.
An article in The Atlantic argues that the progress being made in science isn't keeping pace with the money and time being spent on research.
In Science this week: a CRISPR screen identifies sideroflexin 1 as a requisite component of one-carbon metabolism, and more.