Myriad Genetics to buy St. George lab, test assets from Precision Genomics
Myriad Genetics, a Salt Lake City-based provider of genetic testing and precision medicine, has agreed to acquire select assets from Intermountain Precision Genomics’ (IPG) laboratory business, including the Precise Tumor Test, the Precise Liquid Test and IPG’s CLIA-certified laboratory in St. George where the Precise Tumor Test is currently performed.
The acquisition is expected to close on Feb. 1, subject to customary closing conditions. Financial details were not disclosed.
By bringing the Precise Tumor and Precise Liquid tests in-house, Myriad will open up new opportunities for innovation, growth, and continued development of its oncology portfolio, the company said.
“With this acquisition, we’re deepening our commitment to our oncology business while also generating a more effective way to scale and grow our tumor profiling and liquid biopsy tests, including operational efficiencies, reimbursement benefits and new clinical development opportunities,” said Paul J. Diaz, president and CEO of Myriad Genetics. “We’d like to thank our longstanding partners at Intermountain Healthcare for the important progress they’ve made in advancing precision oncology care. We look forward to continuing to build on this foundation to provide comprehensive genomic profiling options to the Intermountain Health System and its patients and providers that can help guide clinical care and improve patient outcomes.”