Sep. 22, 2014, 1:59 PM
- Genetic Technologies (GENE +2.2%) sells its heritage Australian Genetics business to Primary Heath Care Ltd. subsidiary Specialist Services Ltd. for $2M in cash. The Australian Genetics operation provides diagnostic and sequencing services focused on Australia-only medical, forensic, paternity and animal genomic testing.
- The transaction is part of the company's plan to divest non-core assets and focus its activities on the U.S. molecular diagnostics market and its lead breast cancer risk test BREVAGen.
GENE vs. ETF Alternatives
Genetic Technologies Ltd is a biotechnology company providing genetic testing services. It also conducts out-licensing of its intellectual property relating to non-coding DNA and research and development in the areas of genetics and related fields.
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