(AOF) – Novacyt announces the finalization of the acquisition by its British subsidiary Novacyt UK of the entire share capital of Yourgene Health plc, an international molecular diagnostics group. The clinical diagnostics specialist specifies that his target “mainly develops, manufactures and markets simple and precise molecular diagnostics and screening solutions for reproductive health and precision medicine”.
Yourgene’s in vitro diagnostic product portfolio includes non-invasive prenatal diagnostics (NIPD) for the detection of trisomy and other genetic disorders, screening tests for cystic fibrosis, invasive rapid tests for aneuploidy and DPYD genotyping. Yourgene is headquartered in Manchester, UK, and the company has offices in Taipei (divestiture pending), Singapore, USA and Canada.
Novacyt believes this acquisition creates a larger, more specialized international diagnostics company, increasing the reach and diversification needed to accelerate its revenue growth and create long-term value.
Dr. John Brown and Lyn Rees, former Chairman and Chief Executive Officer of Yourgene, respectively, will join Novacyt’s Board of Directors as non-executive and executive members, first as non-voting members and then as as full members, subject to ratification by the shareholders at the next general meeting.
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