Myriad Genetics, Inc. acquired Gateway Genomics, LLC for approximately $110 million.
November 31, 2022
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Myriad Genetics, Inc. (NasdaqGS:MYGN) acquired Gateway Genomics, LLC for approximately $110 million on November 1, 2022. Myriad Genetics acquired Gateway Genomics for an upfront cash purchase price of $67.5 million, subject to customary working capital adjustments and an escrow of $7.5 million. Gateway has the opportunity to earn up to an additional $32.5 million of cash payments in 2023 and 2024 if certain revenue, volume synergy and EBITDA targets are achieved. Projected revenues for Gateway in calendar year 2022 are approximately $20 million. Chris Jacob, Gateway's CEO, and the entire Gateway management team and staff will join Myriad Genetics' Women's Health operating division. Guggenheim Securities, LLC acted as financial advisor to Myriad Genetics. Raymond James acted as a financial advisor and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP acted as legal advisor to Gateway Genomics.
Myriad Genetics, Inc. (NasdaqGS:MYGN) completed the acquisition of Gateway Genomics, LLC on November 1, 2022. Myriad also assumed $0.939 million of liabilities of Gateway.
Myriad Genetics, Inc. is a genetic testing and precision medicine company. The Company develops and offers genetic tests that help assess the risk of developing disease or disease progression and guide treatment decisions across medical specialties where genetic insights can significantly improve patient care and lower healthcare costs. The Company is focused on three key areas where it has specialized products, capabilities, and expertise: Oncology, Women's Health and Mental Health. In oncology, it offers testing for patients who have cancer and companion diagnostic tests that work with corresponding drugs and treatments. It also offers the SneakPeek Early Gender DNA Test which can reveal a baby's gender as early as six weeks into pregnancy. The Companyâs testing products include MyRisk, BRACAnalysis, BRACAnalysis CDx, MyChoice CDx, Prolaris, EndoPredict, Foresight, Prequel, Precis Tumor Test, Precise Liquid Test, SneakPeek and GeneSight.
MYRIAD GENETICS, INC. 
