Novartis to acquire personalized diagnostic services provider

The transaction will enhance Novartis’s tools and services that aim to improve health outcomes for patients by advancing the ability to define and monitor individualized treatment programs.

Under the terms of the deal, Novartis will initiate a tender offer for all outstanding shares of common stock of Genoptix at $25 per share in cash.

Novartis plans to retain the existing operations and continue delivering Genoptix’s portfolio of personalized diagnostics services to community-based hematologists/oncologists throughout US.

The acquisition will support the development of companion diagnostic programs, especially in oncology.