Invitae (select assets)
2024
Why
Labcorp acquired select assets of Invitae, a genetic testing company, to advance its strategy to launch and scale specialty testing in oncology and rare diseases. The acquisition added genetic counseling capabilities, variant interpretation expertise, and a broad genetic test menu.
Impact
The Invitae asset acquisition expanded Labcorp's genetic and genomic testing capabilities, particularly in hereditary cancer and rare disease diagnostics. The acquisition also added a platform for consumer-facing genetic testing services that could complement Labcorp's traditional physician-ordered testing model.
Outcome
The acquisition is too recent for full evaluation, but it aligns with Labcorp's stated strategy of expanding specialty testing capabilities. The integration of Invitae's assets with Labcorp's existing infrastructure and payer relationships could create synergies in genetic test commercialization.