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HeartGenetics offers a range of genetic tests and services including ones for general wellness, cardiovascular conditions, and pharmacogenetics.
Genosity will combine its Integrated Genomic Toolkit with Israel-based Igentify's genetic counseling software, which both firms will comarket.
The firms said they are collaborating to facilitate genetic testing to support early diagnosis of GM1, a rare monogenic recessive lysosomal storage disease.
The owner of Specialty Drug Testing, a Monroe, Louisiana-based laboratory, appeared in United States District Court accused of violating the Anti-Kickback Statute.
The companies are currently working together to commercialize their respective products including genetic tests for type 2 diabetes and gestational diabetes risk.
The investment banking firm forecast Fiscal Year 2021 revenues of $235.6 million, higher than the consensus Wall Street estimate of $178.4 million.
The report noted that savings from the lower payment rates were offset by increased spending on other tests, including genetic tests.
The genetic testing company said its orders for traditional tests have also rebounded and are on track for growth in the second half of 2020.
BlackRock, the world's largest investment manager, led the round, joined by new investors Deerfield Management and Moore Strategic Ventures as well as existing investors.
The investment bank gave shares of the Temple City, California-based genetic testing company a buy rating and a $20 price target.