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About Invitae
Industries
Biotechnology
Healthcare
Company Size
501-1,000
Company Stage
IPO
Headquarters
San Francisco, California
Founded
2010
Overview
Invitae specializes in genetic testing, aiming to incorporate genetic information into standard medical practices. The company offers a range of tests for hereditary conditions, reproductive health, and proactive health assessments, making these services affordable and accessible to a wide audience. Invitae's testing process is streamlined for both patients and clinicians, allowing easy ordering of test kits and tracking of results. They also provide sponsored testing programs for specific conditions at no cost. Unlike many competitors, Invitae focuses on reducing costs and simplifying access to genetic testing, with options like a flat fee for certain tests to help those without comprehensive insurance. The goal of Invitae is to empower patients and healthcare providers with valuable genetic insights that can lead to improved health outcomes.
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Simplify's Take
What believers are saying
- Growing demand for genetic testing boosts Invitae's market potential.
- AI integration improves diagnostic speed and accuracy, enhancing service value.
- Telemedicine expansion allows Invitae to reach a broader audience.
What critics are saying
- Labcorp acquisition may disrupt operations and affect customer satisfaction.
- Financial instability from bankruptcy poses risks to ongoing operations.
- Uncertainty about San Francisco labs could impact research and development.
What makes Invitae unique
- Invitae offers comprehensive genetic tests with faster turnaround and lower costs.
- The company integrates AI and machine learning to enhance diagnostic accuracy.
- Invitae's platform simplifies test ordering, sample pickup, and result tracking.
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Funding
Total Funding
$2570.4M
Above
Industry Average
Funded Over
10 Rounds
SoftBankBenefits
Competitive salary
Health, dental, & vision
Generous vacation days
Family leave
Flexible working hours
Work from home
Growth & Insights and Company News
6 month growth
↓ -1%1 year growth
↓ -1%2 year growth
↑ 2%Invitae, a genetic testing pioneer, was acquired by Labcorp for $239 million after filing for Chapter 11 bankruptcy in February. Prior to bankruptcy, Invitae cut 1,000 jobs. Labcorp's integration team is working on merging operations, but future plans for Invitae's San Francisco labs remain unclear. The acquisition will add $120 million to Labcorp's revenue this year but incur $150 million in onetime costs. Invitae's debt from 13 acquisitions between 2019-2021 contributed to its financial troubles.
Invitae launches Unlock(TM) Behind the Seizure(R) program for pediatric epilepsy patients.
– Program provides accessible and affordable testing for pediatric epilepsy patients –. – Genetic and clinical insights from test results to strengthen Invitae's rare disease database –. SAN FRANCISCO, July 22, 2024 /PRNewswire/ -- Invitae (OTC: NVTAQ), a leading medical genetics company, today announced the launch of its Unlock™ Behind the Seizure® program, which provides accessible and affordable genetic testing for pediatric epilepsy patients in the hopes of shortening the diagnostic odyssey and enabling a path towards effective, personalized care and precision therapy1
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
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About Invitae
Industries
Biotechnology
Healthcare
Company Size
501-1,000
Company Stage
IPO
Headquarters
San Francisco, California
Founded
2010
There are no jobs for Invitae right now.
Find jobs on Simplify and start your career today