Novartis will acquire Genoptix for $470m

NOVARTIS announced yesterday that it has entered into a definitive agreement for the acquisition of Genoptix, a specialised laboratory providing diagnostic services to haematologists and oncologists.

Under the terms of the agreement, Novartis will commence a tender offer for all outstanding shares of common stock of Genoptix at $25.00 (£15.70) per share in cash. This represents a total equity value of $470m and an enterprise value of $330m.