Complete Genomics is a leader in whole human genomic sequencing. Through its pioneering sequencing-as-a-service model, the company provides the most accurate whole human genome sequencing available on the market today. The genomic information gathered is used by research centers to conduct medical research which will gain researchers a better understanding of the prevention, diagnosis, and treatment of diseases.
The company today announced that it has entered into a definitive merger agreement with BGI-Shenzhen. Through the agreement, a wholly-owned U.S. subsidiary of BGI will launch a $117.6 million tender offer to purchase all the outstanding shares of Complete Genomics at $3.15 per share in cash. This represents a substantial premium to the stock's last trading price ($2.04 a share) prior to the company's announcement on June 4 that it was evaluating "strategic alternatives."
BGI operates international genome sequencing centers, which support genetic research into agriculture, animals, and humans, and serves researchers globally. In combination with Complete's whole human genome sequencing service, the new company will bring together complementary scientific and technological expertise along with research and development capabilities.
The merged company expects to grow its business rapidly while improving medical research. When clinical services are provided, it should give better support to doctors, hospitals, and researchers to better diagnose disease with tools to treat their patients.
For additional information on Complete Genomics, please visit completegenomics.com
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