Illumina Completes Acquisition of Verinata HealthMonday, February 25, 2013
San Diego’s Illumina Inc. announced that it has completed its acquisition of Verinata Health Inc., a Redwood City-based company that develops noninvasive tests for the early identification of fetal abnormalities such as Down syndrome.
Illumina paid $350 million upfront last month for the company, plus up to $100 million in milestone payments through 2015.
“We look forward to working with the talented team at Verinata to quickly integrate our two companies,” said Jay T. Flatley, president and CEO of Illumina, in a statement. “Bringing our two companies together provides a very strong collection of technologies and partners in the reproductive health market, with solutions that will lead to improved health outcomes.”
— SDBJ Staff Report