Assurex Health, with its headquarters in Mason, has been sold to a Salt Lake City personalized medicine company for $225 million with the potential for $185 million in additional performance-based milestones.
The company, Myriad Genetics Inc.(NASDAQ:MYGN), says the headquarters will remain in Mason, where 250 Assurex employees work.
A news release says Assurex will be a wholly-owned subsidiary of Myriad Genetics.
“We are excited to be joining the global leader and pioneer in personalized medicine,” said Gina Drosos, who will continue to serve as president of Assurex. “Myriad has the reimbursement, regulatory and commercial expertise to help take our business to the next level and ensure that even more patients can benefit from better outcomes through our GeneSight tests.”
“Assurex Health brings to Myriad GeneSight®, one of the fastest growing new tests in a multi-billion dollar global market,” said Mark C. Capone, president and CEO, Myriad Genetics. “Importantly, this acquisition provides a commercial channel into the neuroscience market, which we believe will be one of the highest growth areas for personalized medicine.”
Assurex Health was founded in 2006 with patented technology licensed from Cincinnati Children's Hospital Medical Center and the Mayo Clinic.