For the year ended March 31, the Manchester, UK-based provider of noninvasive prenatal testing reported more than £3.1 million ($4 million) in revenue.
The UK-based firm said that it "will vigorously pursue all options to recover the debt or equivalent assets."
The firm has seen a small handful of false positives for the test in thousands of samples run since the study, but attributed them to biological features.
The company said that Illumina and Sequenom's NIPT patents are not present in the Middle East, allowing it to sell its Iona test unimpeded.
The acquisition will expand Premaitha's market in Asia, enable it to develop new products, and strengthen its patent position in NIPT.