NeoGenomics Laboratories, Inc. agreed to acquire remaining 88.95% stake in Inivata Limited from a group of sellers for $390 million on May 4, 2021. The consideration will be payable in cash, subject to adjusted to reflect certain cash and debt items at closing, and will be funded with balance sheet cash and through a private placement of equity, with the expected gross proceeds of $200 million by NeoGenomics, Inc. (NasdaqCM:NEO) parent of NeoGenomics Laboratories. Upon completion, Inivata Limited will become wholly-owned subsidiary of buyer.

Current Inivata Chief Executive Officer Clive Morris will become the President of Inivata and will report to Mark Mallon, Chief Executive Officer of NeoGenomics. Closing is subject to customary conditions, including the expiration or termination of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and and is expected to close in June 2021. Michael Lampert of Ropes & Gray LLP along with John Newton, Michael Lampert, Lincoln Tsang, Charlotte Jacobsen, Melissa Rones, Alex Robb, Rohan Massey, Andrew Howard, Lisa Kaltenbrunner and Deidre J. Johnson of Ropes & Gray International LLP acted as legal advisor for NeoGenomics.

Margaret N. Rosenfeld of K&L Gates LLP served as legal advisor to Inivata and sellers along with Perella Weinberg Partners LP acted as financial advisor to Inivata. Goldman Sachs & Co. LLC is serving as exclusive financial advisor to NeoGenomics.