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Quest Diagnostics said it has acquired Blueprint Genetics in an all-cash equity transaction. Helsinki, Finland-based Blueprint Genetics has deep expertise in gene variant interpretation based on next-generation sequencing (NGS) and proprietary bioinformatics. Additional financial terms were not disclosed.
Quest said the addition of Blueprint Genetics will help broaden access to actionable insights in genetic and rare diseases, improving patient care and pharmaceutical drug research and development.
"The great challenge with genetic testing is generating quality, actionable and broadly accessible insights from vast quantities of sequenced genetic data," Steve Rusckowski, chairman, president and CEO, of Quest Diagnostics, said in a release. "Blueprint Genetics has developed a proven model for delivering highly specialized genetic insights that we believe we can scale to serve new patient populations with unmet clinical needs. The addition of Blueprint Genetics strengthens and extends the Quest value proposition in genetics, delivering on our Accelerate growth strategy and vision of a healthier world."
Blueprint Genetics was founded in 2012 and provides 3,900 targeted single gene and over 200-panel tests spanning 14 medical specialties. Gene variant interpretation involves identifying associations between gene variants and disease or treatment response.
The firm has increased its focus and presence in the US through a recently established hub facility in. The acquisition provides a platform for Blueprint Genetics to use Quest's capabilities in next-generation sequencing and national infrastructure serving half the health systems and physicians in the US. Blueprint Genetics is expected to continue to operate largely independently from its base laboratory in Helsinki, Finland, and a presence in other countries.