U.S. genetic sequencing company Illumina Inc said it has agreed to purchase Verinata Health Inc for $350 million plus up to $100 million in milestone payments through 2015 to expand its footprint in prenatal testing options. Verinata Health is a provider of non-invasive tests for the early identification of fetal chromosomal abnormalities.The deal is expected to dilute Illumina's non-GAAP earnings per share by 20 cents in 2013 before turning accretive beginning in 2014 and beyond.Illumina said the transaction will be financed primarily with cash on hand.The Verinata deal follows after smaller peer Complete Genomics Inc rejected Illumina's takeover bid of about $114 million in November.
Complete Genomics, Inc. operates as a United States-based life sciences company. Shares of GNOM remained unchanged at $3.14. In the past year, the shares have traded as low as $1.57 and as high as $5.42. On average, 442169 shares of GNOM exchange hands on a given day and today's volume is recorded at 275854.
Illumina, Inc. (Illumina) is a developer and manufacturer of life science tools and integrated systems for the analysis of genetic variation and function. Shares of ILMN fell by 1.42% or $-0.79/share to $54.76. In the past year, the shares have traded as low as $28.72 and as high as $57.00. On average, 1693890 shares of ILMN exchange hands on a given day and today's volume is recorded at 2547462.
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