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RedPath Integrated Pathology

As part of the deal with an institutional investor, Interpace's royalty and milestone obligations will also be terminated. 

NEW YORK (GenomeWeb News) – PDI today announced it will buy molecular diagnostics company RedPath Integrated Pathology for more than $23 million in cash and stock.

NEW YORK (GenomeWeb News) – RedPath Integrated Pathology today announced the execution of an agreement with preferred provider organization MultiPlan for RedPath's PathFinder TG test for pancreatic cancer.

The deal was abandoned after the two companies could not reach new terms and conditions following a Medicare contractor's decision to cover only one of RedPath's tests.

ExonHit said that it anticipates a lack of quorum to vote on the acquisition, which last week hit a snag on the news that Medicare may drop RedPath's pancreatic cancer test.

RedPath has until July 9 to respond to a Medicare contractor why coverage for its PathFinderTG-Pancreatic test should continue, and ExonHit is currently evaluating the consequences of the decision.

ExonHit CEO Loic Maurel said that the transaction, scheduled to close in July, is a "significant milestone in ExonHit's strategy to become an internationally recognized player in molecular diagnostics," and will "strengthen" the firm's presence in the US.

The acquisition of the Pittsburgh-based cancer testing company will bolster ExonHit’s molecular diagnostic position and its US presence.

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