Shares of healthcare company Guardant Health (NASDAQ: GH) are down 14.2% as of mid-session today on the heels of unconfirmed reports that it's interested in acquiring peer and indirect rival NeoGenomics (NASDAQ: NEO) .
Only citing "people familiar with the matter," Bloomberg reported on Friday that disease diagnostics Guardant Health is considering an acquisition of cancer-testing specialist NeoGenomics.
Although neither NeoGenomics nor Guardant Health has confirmed they're in such discussions, the suggestion has an air of credibility. Guardant's Lunar-2 and Guardant360 tests are designed to help oncologists identify the best possible treatment options for cancer patients. NeoGenomics also offers a wide array of cancer diagnostic services. Combining the two companies would translate into a large number of cross-marketing opportunities as well as a greater total market share.
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Why Guardant Health Is Down More Than 14% Friday