The court cited previous US Supreme Court rulings, including Mayo vs. Prometheus, in determining that certain claims of Illumina's patents were invalid.
The investment bank called Genomic Health a leader in diagnostic testing and said Invitae will benefit from growth trends in the genetic testing sector.
The company, which changed its name from Premaitha Health last month, saw a 73 percent increase in testing volumes during the first half of fiscal year 2018.
The companies will bring NIPD Genetics' Veracity and Veragene noninvasive prenatal tests to Medicover's markets, as well as developing new genetic tests.
The company and Women & Infants Hospital of Rhode Island are currently evaluating the technology to determine the performance of the test.
Natera plans to launch its clinical oncology and transplantation tests next year and is hopeful that guidelines endorsing NIPT for average-risk pregnancies are imminent.
The firm missed the Wall Street estimates on the top and bottom lines, and it lowered its EPS and adjusted EPS guidance for full-year 2018.
During the first year of the TRIDENT-2 study, 74,000 women opted for NIPT, which was switched from in-house-developed platforms to Illumina's VeriSeq in May of this year.
The investment bank said it is encouraged by the company's strong pipeline and position among its competitors but sees further upside for its stock.
The placing and subscription shares that are part of the offering are expected to start trading on the AIM market of the London Stock Exchange later this month.