Clarient, which employees about 415 people, booked $127m in revenues and $13M in EBITDA in 2014.
Clarient Diagnostic Services offers a range of cancer diagnostic testing services to healthcare providers and the pharmaceutical industry.
NeoGenomics will pay $80m in cash and $110m in preferred stock under the transaction, which will allow the company to expand its offering of cancer diagnostic tests to hospitals and physicians across the US.
The acquisition will enable the combined company to further use its existing laboratory facilities and infrastructure for driving productivity and lower operating costs.
NeoGenomics CEO Douglas VanOrt said: "Our vision is to become America’s premier cancer testing laboratory and this acquisition is a major step forward in achieving that vision."
NeoGenomics and GE Healthcare have also agreed to collaborate on a new bioinformatics initiative that unites their shared interest in precision oncology.
The companies will explore the potential for new products that combine genomic and imaging data in order to help reduce healthcare costs and improve the care of patients with cancer.
NeoGenomics expects its revenue to more than double to about $240m to $250m and adjusted EBITDA to more than triple to between $33m and $38m on a pro forma basis in 2016.