Novartis has entered into a definitive agreement for the acquisition of Genoptix, a provider of personalized diagnostic services to community-based hematologists and oncologists.
The acquisition will enhance Novartis’s tools and services that aim to improve health outcomes for patients by advancing the ability to define and monitor individualized treatment programs.
Under the terms of the agreement, Novartis will commence a tender offer for all outstanding shares of common stock of Genoptix at $25 per share in cash.
Novartis CEO Joseph Jimenez said the acquisition of the Genoptix medical laboratory will serve as a strong foundation for their individualized treatment programs.
The acquisition will support and expedite the development of companion diagnostic programs, especially in oncology.
Novartis plans to maintain the existing operations and continue delivering Genoptix’s portfolio of personalized diagnostics services to community-based hematologists/oncologists across the US.