SALT LAKE CITY, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ:MYGN), a leader in genetic testing and precision medicine, today announced it has entered into a definitive agreement 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, Utah where the Precise Tumor Test is currently performed.
The acquisition is expected to close on February 1, 2024, subject to customary closing conditions. 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.
"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, 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."