On May 24, 2021 Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in genetic testing and precision medicine, reported it has signed a definitive agreement to sell Myriad RBM, Inc. to Q2 Solutions, a leading global clinical trial laboratory services organization, and a wholly owned subsidiary of IQVIA (Press release, Myriad Genetics, MAY 24, 2021, View Source [SID1234580517]). Q2 Solutions provides comprehensive testing, project management, supply chain, biorepository, biospecimen and consent tracking solutions. Myriad RBM, which specializes in contract research services for the pharmaceutical industry, will be added to the overall Q2 Solutions menu and offerings.

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"Our agreement with Q2 Solutions provides a good home for Myriad RBM teammates, delivers strong value, and provides significant capital for future growth," said Paul J. Diaz, president and CEO of Myriad Genetics. "The divestiture of Myriad RBM, along with other announced divestitures, allows us to accelerate the execution of our transformation plan and focus on advancing our core businesses in Women’s Health, Oncology and Mental Health."

The deal is subject to customary closing conditions, and Myriad expects the transaction to close in the third calendar quarter.
Cowen is acting as exclusive financial advisor and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. is acting as legal advisor to Myriad Genetics.