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Clinical lab operator Labcorp to buy bankrupt genetic test maker Invitae for $239 mln

Laboratory service provider Labcorp said on Wednesday it will acquire Softbank-backed Invitae Corp s assets auctioned through a voluntary bankruptcy protection process, a few months after the genetic.

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Clinical Lab Operator Labcorp to Buy Bankrupt Genetic Test Maker Invitae for $239 Million

Clinical Lab Operator Labcorp to Buy Bankrupt Genetic Test Maker Invitae for $239 Million
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Clinical lab operator Labcorp to buy bankrupt genetic test maker Invitae for $239 million

Labcorp will acquire all of the bankrupt firm's assets on a going concern basis for $239 million in cash consideration and other non-cash consideration, the companies said in separate statements. In February, Invitae filed for voluntary Chapter 11 protection in a U.S. bankruptcy court and said that it intended to pursue a sale process. Invitae's estimated assets were in the $500 million - $1 billion range, while its liabilities were in the $1 billion - $10 billion range, according to the bankruptcy filing.

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Labcorp to buy bankrupt genetic test maker Invitae for $239 million

Labcorp to buy bankrupt genetic test maker Invitae for $239 million
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Nestle India Q1 results Net profit up nearly 27% at Rs 934.17 crore

Nestle India Q1 results Net profit up nearly 27% at Rs 934.17 crore
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