Consumer Genetic Testing Company 23andMe to Merge with Sir Richard Branson’s VG Acquisition Corp. and Go Public

Mar 19, 2021 | Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology, Laboratory Testing, Management & Operations

The merger is expected to boost investment in 23andMe’s consumer health and therapeutics businesses After years of spectacular growth, the popularity of direct-to-consumer (DTC) genetic testing is beginning to wane. Nevertheless, opportunities still exist in the DTC genetic testing market for visionaries with funds to invest. One such visionary is billionaire Richard Branson, founder of the multinational venture capital conglomerate Virgin Group (VG). Branson’s VG Acquisition Corp....

Blackstone Buys Stake in Ancestry for $4.7 Billion, While Interest in Direct-to-Consumer Genealogy Genetic Tests May Be Fading Among Consumers

Oct 23, 2020 | Laboratory Hiring & Human Resources, Laboratory Instruments & Laboratory Equipment, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology, Laboratory Sales and Marketing, Laboratory Testing, Managed Care Contracts & Payer Reimbursement, Management & Operations

Though gene sequencing is touted as a key component of precision medicine, the medical value of direct-to-consumer testing has yet to show up in improved health outcomes, nor have clinical laboratories benefitted In a recent example that the market for genetic genealogy testing may have peaked and the days of spectacular growth in the number of direct-to-consumer (DTC) genetic test orders and revenue is over, private-equity firm Blackstone—in a $4.7 billion deal—announced it will acquire a...

J&J’s Ortho Clinical Diagnostics Business Snapped up by Carlyle Group for $4.15 Billion in a Sale that Will Impact OCD’s Clinical Laboratory Customers

Jan 20, 2014 | Laboratory News

It’s finally official! Ortho Clinical Diagnostics  (OCD) will be sold to The Carlyle Group (CG: NASDAQ), an asset management firm and equity investor. The sales agreement was announced on Thursday. Carlyle will pay $4.15 billion, and the transaction is expected to close mid-year, pending regulatory approvals. OCD’s change of ownership will be closely watched by the thousands of medical laboratories in the United States and abroad that are customers of OCD. Typically, pathologists and clinical...
;