Invitae launches Unlock(TM) Behind the Seizure(R) program for pediatric epilepsy patients.

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

Advances Labcorp strategy to launch and scale specialty testing in areas such as oncology and rare diseasesTransaction requires court approval, with confirmation expected on May 6, 2024BURLINGTON, N.C., April 24, 2024 /PRNewswire/ -- Labcorp (NYSE: LH), a global leader of innovative and comprehensive laboratory services, announced today that it has been selected as the winning bidder for select assets of Invitae, a leading medical genetics company. Before the transaction can proceed, the court overseeing the process must issue an approval order following a hearing currently scheduled for May 6, 2024.Upon completion, Labcorp expects this transaction would generate approximately $275-$300 million in annual revenue with the vast majority in specialty testing areas such as oncology and rare diseases. The purchase price for the transaction is $239 million.The transaction is anticipated to close in third quarter of 2024, subject to customary closing conditions for a transaction of this type, including applicable regulatory approvals.Through this transaction, Labcorp would acquire assets being auctioned through a voluntary bankruptcy protection process.Hogan Lovells and Kilpatrick Townsend are serving as Labcorp's legal counsel.About LabcorpLabcorp (NYSE: LH) is a global leader of innovative and comprehensive laboratory services that helps doctors, hospitals, pharmaceutical companies, researchers and patients make clear and confident decisions. We provide insights and advance science to improve health and improve lives through our unparalleled diagnostics and drug development laboratory capabilities. The company's more than 67,000 employees serve clients in approximately 100 countries, provided support for 84% of the new drugs and therapeutic products approved in 2023 by the FDA and performed more than 600 million tests for patients around the world. Learn more about us at www.Labcorp.com.About InvitaeInvitae (OTC: NVTA) is a leading medical genetics company trusted by millions of patients and their providers to deliver timely genetic information using digital technology