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 for easy ordering, sample pickups, and result tracking. Unlike many competitors, Invitae focuses on reducing costs and simplifying access to genetic testing, including offering a flat fee option for certain tests. The goal is to empower patients and healthcare providers with valuable genetic insights that can enhance health outcomes.

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Invitae

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.

Labcorp Acquires Invitae for $239M

– 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

Invitae Launches Unlock™ Behind The Seizure® Program For Pediatric Epilepsy Patients

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

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.

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

Labcorp Announces Winning Bid For Select Assets Of Invitae

– Labcorp Selected as Winning Bidder in Court-Supervised Sale Process, Subject to Court and Regulatory Approvals –– $239 Million Cash Bid Includes Acquisition of Substantially All of the Company's Assets, Ensuring Business Continuity for Customers, Partners and Employees –SAN FRANCISCO, April 24, 2024 /PRNewswire/ -- Invitae (OTC:NVTA), a leading medical genetics company, announced that Labcorp (NYSE: LH), a global leader of innovative and comprehensive laboratory services, has been selected as the winning bidder in the Company's auction in its sale process under Section 363 of the U.S. Bankruptcy Code. Labcorp will acquire substantially all of the Company's assets on a going concern basis for $239 million in cash consideration, plus other non-cash consideration."The agreement with Labcorp marks a significant step in our financial restructuring and supports our efforts to continue to deliver innovative and industry leading products and services for healthcare," said Ken Knight, president and chief executive officer of Invitae.The hearing to approve the sale is currently scheduled for May 6, 2024. With Court approval, as well as customary regulatory approvals and closing conditions, Labcorp and Invitae anticipate completing the sale process in the third quarter of 2024.Invitae is advised in this matter by Kirkland & Ellis LLP as legal counsel, Moelis & Company LLC as investment banker, and FTI Consulting, Inc. as financial and communications advisor.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. We aim to provide accurate and actionable answers to strengthen medical decision-making for individuals and their families

Invitae Enters Into Agreement With Labcorp For Sale Of Business

– Report details the company's commitment to improving healthcare through the power of genetic information and discloses Environmental, Social and Governance initiatives for fiscal year 2023 –SAN FRANCISCO, April 22, 2024 /PRNewswire/ -- Invitae (OTC: NVTA), a leading medical genetics company, today published its 2024 Environmental, Social and Governance (ESG) Report. This report provides a holistic view of the company's approach to ESG and its performance and progress through measurable data and metrics during the 2023 fiscal year."At Invitae, sustainability isn't just a function; it's woven into the very fabric of our DNA. We've embraced sustainability and ESG as catalysts for transformative change," said Erik Kaiser, chief sustainability officer of Invitae. "Throughout this journey, our unwavering commitment to our patients and customers remains paramount, ensuring that our actions positively impact healthcare, the environment and society."The report provides an in-depth review of the progress made in the past year through company-wide ESG initiatives. The company's notable achievements include:Expanding patient access and partnerships: We concentrated our efforts on expanded access to genetic testing, resulting in policies, programs, and guidelines that now qualify more patients and their families to receive testing. Since inception, we have proudly served over 4.6+ million patients and in 2023, expanded our partnerships in rare diseases and data to advance drug discovery.We concentrated our efforts on expanded access to genetic testing, resulting in policies, programs, and guidelines that now qualify more patients and their families to receive testing

Invitae Publishes Its Environmental, Social And Governance (Esg) Report

– Study findings to be presented at the 2024 American Society of Breast Surgeons Annual Meeting –SAN FRANCISCO, April 11, 2024 /PRNewswire/ -- Invitae (OTC: NVTA), a leading medical genetics company, today announced new studies to be presented at the American Society of Breast Surgeons Annual Meeting (ASBrS) held in Orlando from April 10-14, 2024. The featured research will highlight how machine learning can reduce variants of uncertain significance (VUS) in patients who have received genetic testing for breast cancer, in addition to results from real world data showing that uncertain results do not lead to an overuse of mastectomies for breast cancer patients.New findings show machine learning models can help reduce the burden on clinicians and patients in the process of resolving uncertain genetic test results for hereditary breast cancer, particularly for underrepresented populations.Due to limited evidence, classifying uncertain variants can be challenging. Individuals from certain racial, ethnic and ancestral (REA) populations are often underrepresented in large genomic databases and medical literature, leading to less definitive results, resulting in VUS which are at the center of healthcare disparities. To generate more definitive genetic testing results for these groups, the study sought to develop gene-specific machine learning models and evaluate their usefulness in genetic testing for patients with breast cancer.After validating gene-specific machine learning algorithms, the impact on variant classification was analyzed in patients with breast cancer who underwent hereditary cancer genetic testing from January 2022 - May 2023. The study found that among breast cancer patients who had at least one variant with machine learning evidence applied, more than 15% resulted in a definitive (non-VUS) variant classification. However, when stratifying the analysis by REA populations, a higher percentage of Black (22%), Asian (28%), and Hispanic (19%) individuals with breast cancer had a definitive classification that was determined by machine learning evidence compared to White (12%) individuals, suggesting that machine learning evidence is particularly useful for patients from historically underrepresented populations with breast cancer who undergo hereditary cancer testing

Invitae Unveils New Research For Breast Cancer Patients With Variants Of Uncertain Significance

As part of the transaction, the InvIT has also acquired seven road assets, operating on a hybrid annuity model, from G R Infraprojects Limited.

JSA, Trilegal act on Bharat Highways InvIT IPO

– An Invitae-developed innovative approach to help reduce variants of uncertain significance –SAN FRANCISCO, March 12, 2024 /PRNewswire/ -- Invitae (OTC: NVTA), a leading medical genetics company, today announced the launch of an update to Invitae Generation™ with Clinical Variant Modeling, a novel machine learning approach designed to aid clinical interpretation of genetic testing results and increase the rate of definitive answers for patients. The first of its kind, developed by a multidisciplinary team of computational biologists, machine learning engineers, clinical experts and geneticists, Clinical Variant Modeling methodically leverages clinical information received at the time of testing to improve variant classification and reduce variants of uncertain significance (VUS). This new method represents the latest update to Invitae Generation, the company's state-of-the-art platform that unifies evidence generation and systematic variant classification. This innovation greatly reduces uncertainty for patients and increases the actionability of genetic testing.Clinical Variant Modeling was developed by leveraging Invitae's vast database of information on more than 4 million patients, including over 2 million analyzed DNA variants, and more than 100 million words of clinical descriptions. With this initial launch, it is estimated that nearly 45,000 patients will receive updated reports with more definitive answers as a result of reclassifying previous uncertain results for 11 genetic disorders associated with 17 genes."Invitae is the only clinical lab utilizing this type of evidence-based and clinically validated computational approach to reducing VUS in hereditary disease genetic testing," said W. Michael Korn, M.D., chief medical officer at Invitae

Invitae Launches Update To Invitae Generation™: Clinical Variant Modeling Improves Variant Classification

Affordable genetic testing for healthcare access

Invitae

Affordable genetic testing for healthcare access

Invitae

Affordable genetic testing for healthcare access

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