Biotech Values

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NEO "[NeoGenomics Signs Definitive Agreement to Acquire Genoptix/i]

https://finance.yahoo.com/news/neogenomics-signs-definitive-agreement-acquire-110000136.html

FT. MYERS, Fla., Oct. 23, 2018 (GLOBE NEWSWIRE) -- NeoGenomics, Inc. (NEO), a leading provider of cancer-focused genetic testing services, announced today that it has entered into a definitive agreement to acquire Genoptix, Inc. for $125 million in cash and 1 million shares of NeoGenomics common stock. Genoptix is a leading clinical oncology laboratory, specializing in hematology and solid tumor testing, with an outstanding reputation and relationship with community oncologists across the United States. Genoptix’s strong capabilities complement NeoGenomics’ leadership position with hospitals and pathologists.

Genoptix has gone from a publicly traded co. (IPO value at $85 million), then purchased by Novartis in 2011 for $470 million, the parted out (Pharma business retained by Novartis) and sold to a private investment group for an undisclosed amount in 2017.

This purchase is similar to NEO's purchase of Clarient from GE a couple of years ago. Not sure what kind of digestion issues will ensue, but I'm bullish overall on the purchase. NEO keeps growing and growing.