Nearly every area of healthcare can benefit from enhanced digital health capabilities. That is one reason eHealth targets are now sought after by a variety of acquirers. Some recent deal activity shows how digital health intersects with the Laboratories, MRI & Dialysis sector.
Invitae (NYSE: NVTA) is one of the fastest growing genetic information companies in the United States. The company processes DNA-containing samples, analyzes information about patient-specific genetic variation, and generates test reports for clinicians and their patients using an integrated portfolio of laboratory processes, software tools, and informatics capabilities.
In 2017, the company has set its sights exclusively on eHealth targets. In January, it acquired AltaVoice, aka PatientCrossroads, a patient-centered data company with a global platform for collecting, curating and coordinating safeguarded data from patients and clinicians to facilitate trial recruitment, education and track patient outcomes.
Invitae’s ongoing testing business, combined with AltaVoice’s database of more than 75,000 patients, creates a network for combining genetic information with clinical data. The goal is to accelerate research, clinical trials, and disease management for the diagnosis and treatment of hereditary issues.
Invitae acquired all of AltaVoice’s stock for $5 million in Invitae common stock issuable upon closing. The price doesn’t include up to an additional $10 million in Invitae common stock, issuable based on certain future milestones.
Then, on June 2, Invitae acquired Ommdom, a software development, commercialization and technology sales company. It develops CancerGene Connect, a cloud-based, end-to-end platform available for collecting and managing genetic family histories. CancerGene Connect was developed for clinicians to streamline the collection, analysis and management of patient family history information.
The acquisition expands the company’s suite of genome management offerings designed to help patients and clinicians use genetic information as part of mainstream medical care. Invitae acquired all of Ommdom’s outstanding capital stock in exchange for approximately $6 million in Invitae common stock.
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