Myriad Genetics signs definitive agreement to acquire Counsyl

Myriad Genetics announced that it has signed a definitive agreement to acquire Counsyl, a pioneer in expanded carrier screening and non-invasive prenatal screening for $375M through a combination of cash and Myriad common stock. On completion of the transaction, which is expected to close in Myriad’s fiscal first quarter 2019, Counsyl will become a wholly owned subsidiary of Myriad. Myriad estimates that approximately 900,000 carrier screening tests and approximately 1.3M non-invasive prenatal screening tests will be performed in the U.S. during its fiscal year 2018. The company believes these markets will grow at a double-digit rate with approximately 3.5M total reproductive genetic tests performed in the U.S. in fiscal year 2023, representing a market of more than $1.5B.

https://bit.ly/2kxuyK0