The firm said the decline in Q4 revenues was due to an account loss as well as lower insurance reimbursement and shifts away from high-value genetic testing.
The assets include significant genetic data related to women's diseases and degenerative disc disease, which Predictive will use to develop gene-based diagnostics.
The company's life sciences segment had $1.08 billion in revenues, driven by strong performance of the preanalytical systems, diagnostic systems, and biosciences units.
The firm's 14 percent growth in molecular diagnostics sales was driven primarily by continued strength across its Aptima women's health products globally.
The company said it will use the proceeds to accelerate development of its gastrointestinal platform, including diagnostics and therapeutics for the GI tract.
The company also announced that it has received New York State Department of Health conditional approval for three women's health molecular diagnostic tests.
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.
