Ginkgo Bioworks (NYSE: DNA), the leading horizontal platform for cell programming, today announced the acquisition of Project Beacon COVID-19 LLC (Project Beacon), a Boston-based social benefit organization focused on helping to increase the capacity, availability, accessibility and affordability of COVID-19 testing. Under the terms of the deal, Ginkgo acquired Project Beacon’s assets and will assume responsibility for Project Beacon’s ongoing operations, providing COVID-19 monitoring tools to communities in Massachusetts and other areas.
Sema4 (Nasdaq: SMFR), an AI-driven genomic and clinical data intelligence platform company, and OPKO Health, Inc. (Nasdaq: OPK) (“OPKO”), a multinational biopharmaceutical and diagnostics company, today announced they have signed a definitive agreement for Sema4 to acquire OPKO’s wholly owned subsidiary, GeneDx, Inc. (“GeneDx”), a leader in genomic testing and analysis, from OPKO. The acquisition strengthens Sema4’s leadership, growth, and scale for its market-leading health intelligence and genomic screening offerings. Together, Sema4 and GeneDx will be one of the largest and most advanced providers of genomic clinical testing in the U.S., with a projected $350 million in pro forma 2022 revenue.
CliniSys is announcing the recent acquisition of HORIZON Lab Systems and the combination with Sunquest Information Systems, as CliniSys. This acquisition and Sunquest combination creates one of the world’s largest organizations dedicated to diagnostic and laboratory informatics. CliniSys’ vision is to go beyond the walls of the clinical laboratory to embrace a new wave of digital diagnostics and laboratories across the continuum of care and community to improve public health. HORIZON Lab Systems is critical to this vision with its advanced cloud-based laboratory solutions and unsurpassed knowledge and expertise in Environmental, Water Quality Testing, Public Health, Toxicology and Agriculture laboratory solutions.
Exact Sciences Corp. (NASDAQ: EXAS) announced Sunday it has acquired PreventionGenetics, a genetic testing laboratory, to complement its advanced cancer diagnostics portfolio and support its entrance into hereditary cancer testing (HCT). PreventionGenetics provides the clinical lab, expertise, and foundational technology necessary to accelerate the availability of HCT and help more patients know their germline risk of cancer and other diseases.
Rezolut, a high-growth medical imaging business, has acquired substantially all of the assets of Westwood Open MRI (“Westwood”). Westwood is an outpatient medical imaging center serving patients in West Los Angeles. Clinical services for the center will continue to be provided by Rad Alliance Inc., a professional medical corporation. The acquisition of Westwood will expand Rezolut’s services in Southern California.
The year in medtech ended as it began, with a burst of dealmaking driving companies’ growth ambitions, and there is reason to expect another stretch of elevated M&A activity lies ahead in 2022. Across all of healthcare, companies are taking advantage of abundant capital, both in the private markets and via the rise of special purpose acquisition companies (SPACs). Medtech players in particular are motivated to gain scale as a defense against reimbursement pressures and to accelerate revenue generation by investing in high-growth areas, according to PwC.
Co-Diagnostics, Inc. (Nasdaq: CODX) (the “Company”), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced that it has completed the acquisition of Idaho Molecular Inc. and Advanced Conceptions, Inc. for nearly 4.72 million shares of the Company’s stock, plus additional common warrants totaling 465,000, providing Co-Diagnostics with all existing and future assets and intellectual property related to the Company’s upcoming at-home/point-of-care diagnostic device.
Quidel Corporation (NASDAQ: QDEL) (“Quidel”) and Ortho Clinical Diagnostics Holdings plc (NASDAQ: OCDX) (“Ortho”) announced that they have entered into a definitive agreement in which Quidel will acquire Ortho, one of the world’s largest in vitro diagnostics companies, for $24.68 per share of common stock using a combination of cash and newly issued shares in the combined company, representing a 25% premium over Ortho’s closing price on December 22, 2021 and an equity value of approximately $6.0 billion.
BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, announced it has completed the acquisition of privately held Scanwell Health Inc., a leader in smartphone-enabled at-home medical tests.
Progenity, Inc. (Nasdaq: PROG), a biotechnology company innovating in the field of oral biotherapeutics for gastrointestinal health and beyond, announced it has successfully closed the business divestiture of its affiliate Avero Diagnostics through an asset sale to Northwest Pathology.
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