NeoGenomics, a provider of cancer-focused genetic testing services and global oncology contract research services, agreed to acquire Intervention Insights (dba Trapelo Health), a clinical decision support software company focused on precision oncology.
The acquisition agreement includes a purchase price of $65 million, consisting of $35 million in cash on hand and $30 million in NeoGenomics common stock, is subject to certain customary closing conditions, and is expected to close in April 2021.
Trapelo Health offers an interoperable, decision-support platform for physicians, laboratories, and payers to inform testing and treatment selection, improve clinical trial matching, streamline workflow, and facilitate real-time alignment with current clinical evidence.
According to the company, its platform is powered by a precision oncology knowledge system and consistently captures and codifies clinical research results immediately as it becomes available.
“The addition of Trapelo to NeoGenomics significantly enhances our ability to provide customers with information to help them answer difficult and complex questions related to precision oncology biomarker testing and treatment options. It also reaffirms our commitment to build a leading Informatics business as part of our comprehensive Oncology offering,” said Douglas M. VanOort, Chairman and Chief Executive Officer of NeoGenomics.
“Trapelo’s impressive proprietary evidence-based knowledge system, combined with NeoGenomics’ comprehensive multi-modality test menu, will enable providers to implement precision oncology and give patients the confidence that they are receiving the most effective level of care based on their personal circumstances. We plan to make the Trapelo solution broadly available to providers, payers, and laboratories to enable precision oncology to be available across all healthcare settings.”
A total of 184 digital health companies were acquired in 2020, compared to 169 in 2019, a 9% increase in M&A activity year-over-year, according to Mercom’s Q4 and 2020 Digital Health Funding and M&A Report. Learn More about M&A activity in digital health.