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Prenetics Acquires Act Genomics, Creating A Leader In Comprehensive Cancer Genetics And Precision Oncology

Dec 16, 2022•almost 3 years ago

Acquiring Company

Prenetics

Acquired Company

ACT Genomics

GeneticsHealth DiagnosticsMedicalBiotechnologyHealth CareGeneticsMedicalArtificial IntelligenceBiotechnologyHealth Care

Description

Prenetics Global Limited (NASDAQ: PRE), a leader in genomic and diagnostic testing, today announced that it is acquiring a majority stake in ACT Genomics Holdings Company Limited (“ACT”), an Asia based genomics company specializing in precision oncology with operations in Hong Kong, Taiwan, Japan, Singapore, Thailand and in the UK.

Company Information

Company

Prenetics

About

Founded in 2014, Prenetics is a major global diagnostic and genetic testing company with the mission to bring health closer to millions of people globally and decentralize healthcare by making the three pillars — Consumer Health, Clinical Care and Medical & Cancer Genomics — comprehensive and accessible to anyone, at anytime and anywhere. Prenetics is led by visionary entrepreneur, Danny Yeung, with operations across nine locations, including The United Kingdom, Hong Kong, India, South Africa, and Southeast Asia. Prenetics develops consumer genetic testing and early colorectal cancer screening and provides COVID-19 testing, rapid point of care and at-home diagnostic testing and medical genetic testing. Prenetics is listed on NASDAQ with the ticker PRE. To learn more about Prenetics, visit www.prenetics.com.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed