On August 3, 2021 Veracyte, Inc. (Nasdaq: VCYT) reported the company has completed its acquisition of HalioDx to solidify its reach into global markets while expanding its scientific capabilities and diagnostics scope into 8 of the 10 top cancers as defined by U.S. incidence (Press release, Veracyte, AUG 3, 2021, View Source [SID1234585590]).

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"This important acquisition is the culminating piece in a series of strategic initiatives and acquisitions that we believe will enable Veracyte to achieve our vision of improving outcomes for patients worldwide at every step of their journey," said Marc Stapley, Veracyte’s chief executive officer. "HalioDx’s European manufacturing infrastructure and operations, along with the company’s immuno-oncology capabilities and best-in-class diagnostic products, have the potential to fuel our growth in cancer diagnostics. We look forward to welcoming the talented HalioDx team to the Veracyte family and working together to build a leading global diagnostics company."

Bonnie Anderson, Veracyte’s executive chairwoman, led the acquisition of HalioDx. She will also drive the ongoing integration, including the transition of manufacturing operations to France, maximizing the combined global potential of each company’s cancer diagnostics technology platform and capabilities.

Transaction Details
Under the terms of the transaction, Veracyte acquired HalioDx for €260 million, consisting of approximately €147 million in cash and €113 million in stock. HalioDx has become a wholly-owned subsidiary of Veracyte.