NEOGENOMICS ACQUIRES ONCOLOGY SERVICE PROVIDER FOR $37 MILLION

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Fort Myers-basedĀ NeoGenomics Inc., a provider of cancer-focused genetic testing services, announced that the company has acquired the Oncology Division assets of Human Longevity Inc. for $37 million.

The transaction closed Friday and was financed via available cash on hand.

The Oncology Division of Human Longevity, located in San Diego, performs Next Generation Sequencing services for pharmaceutical customers. The division generated approximately $10 million in revenues in 2019 and ended the year with a backlog of approximately $15 million of signed contracts.