The investment bank called Genomic Health a leader in diagnostic testing and said Invitae will benefit from growth trends in the genetic testing sector.
The app provides results for 15 genetic conditions in the areas of carrier screening, genetic disease risk, medication response, and health-related traits.
During the quarter, the number of billable tests delivered rose to 5,700, and the CEO said that recent investments in the firm were showing a positive impact.
Cooper took a $24.4 million impairment charge in the second quarter on the intangible assets it acquired in 2016 from carrier screening firm Recombine.
The firm reported selling more billable tests in Q1 than any previous quarter and said that it is starting to see momentum in new initiatives, such as carrier screening.
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.
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 Economist reports that it is increasingly easier to analyze the metabolites people give off, potentially revealing personal information about them.
