Monday, January 7, 2013
Illumina Buys Verinata Health
San Diego-based life sciences equipment firm Illumina said over the weekend that it is in an agreement to acquire Verinata Health, a provider of non-invasive testing for fetal chromosomal abnormalities. Illumnina said it would pay $350M plus up to $100M in milestone payments for Verinata. Verinata's tests are used for prenatal testing. Illumina was advised by Bank of America Merrill Lynch and Covington & Burling LLP in the deal. Verinata was venture backed by Alloy Ventures, Mohr Davidow Ventures, and Sutter Hill Ventures.