HELSINKI (dpa-AFX) - Quest Diagnostics (DGX) announced Wednesday that it has acquired Finland-based genetic testing company Blueprint Genetics in an all-cash equity transaction. Financial terms of the transaction were not disclosed.
Blueprint Genetics is a leading specialty genetic testing company with deep expertise in gene variant interpretation based on next generation sequencing (NGS) and proprietary bioinformatics.
Together, Quest and Blueprint Genetics will broaden access to actionable insights in genetic and rare diseases, improving patient care and pharmaceutical drug research and development.
Blueprint Genetics brings to Quest a proven platform in specialty genetics, especially gene variant interpretation and reporting, that powerfully differentiates our Advanced Diagnostics offering. The company provides 3,900 targeted single gene and over 200 panel tests spanning 14 medical specialties.
Blueprint Genetics has developed a proven model for delivering highly specialized genetic insights that can scale to serve new patient populations with unmet clinical needs. According to the National Institutes of Health, as many as 7,000 rare diseases exist and as many as 30 million Americans have a rare disease.
Blueprint Genetics has increased its focus and presence in the U.S. through a recently established hub facility in Seattle, Washington. Blueprint Genetics is expected to continue to operate largely independently from its base laboratory in Helsinki, Finland, and a presence in other countries.
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