NEW YORK (GenomeWeb) – Myriad Genetics said on Tuesday that it has completed its acquisition of reproductive genetic testing firm Counsyl.
The move, which Myriad announced in May, will allow Myriad to expand into carrier screening with Counsyl's Foresight test, which covers more than 175 clinically actionable conditions across ethnicities, and into the rapidly growing noninvasive prenatal screening market with Counsyl's Prelude test.Â
Myriad said that it will fund the $375 million acquisition with a combination of cash, common stock, and funds from its revolving credit facility.
Back in May, Myriad had outlined several organizational changes that would result following the acquisition to integrate the two businesses. Myriad will merge Counsyl's reproductive health tests with its existing preventive care business unit into a new business unit called Myriad Women's Health, which will focus solely on Ob/Gyns and reproductive healthcare providers. Myriad will also combine its women's health sales force of approximately 225 representatives with Counsyl's 80 sales professionals, enabling a threefold increase in physician reach for reproductive testing, according to Myriad.
The integration will also involve a number of personnel changes.Â