Beringea U.S. portfolio company Trapelo Health, an information technology company focused on precision oncology, has agreed to be acquired by a leading provider of cancer-focused genetic testing services and global oncology contract research services, NeoGenomics Bioinformatics, Inc. (NASDAQ: NEO), for $65 million.
Trapelo Health’s products advance the appropriate use of precision oncology. The company offers a first-of-its-kind, interoperable, decision-support platform for physicians, laboratories, and payers to inform testing and treatment selection, improve clinical trials matching, streamline workflow and facilitate real-time alignment with the most current clinical evidence. The platform improves patient access to medically appropriate and high-quality treatment options.
“Since our initial investment, we have believed deeply in the promise of the Trapelo product: to provide cancer patients the best chance for a positive outcome,” said Michael Gross, Trapelo Health board member and managing director at Beringea. “It's gratifying that this innovative company has found a perfect strategic fit with Neogenomics, to accelerate the availability of precision medicine where it is needed most and bring better care to oncology patients."
“NeoGenomics was quick to recognize and appreciate Trapelo’s comprehensive decision-support philosophy, knowledgebase and technology, and the important role it can play in scaling the appropriate use of precision oncology by physicians on behalf of their patients,” added Clynt Taylor, CEO of Trapelo Health. “We are very excited to be joining the NeoGenomics team and look forward to accelerating the important work we’ve started.”
About NeoGenomics, Inc.
NeoGenomics, Inc. specializes in cancer genetics testing and information services. The Company provides one of the most comprehensive oncology-focused testing menus in the world for physicians to help them diagnose and treat cancer. The Company's Pharma Services Division serves pharmaceutical clients in clinical trials and drug development.
Headquartered in Fort Myers, FL, NeoGenomics operates CAP accredited and CLIA certified laboratories in Fort Myers and Tampa, Florida; Aliso Viejo, Carlsbad and San Diego, California; Houston, Texas; Atlanta, Georgia; Nashville, Tennessee; and CAP accredited laboratories in Rolle, Switzerland, and Singapore. NeoGenomics serves the needs of pathologists, oncologists, academic centers, hospital systems, pharmaceutical firms, integrated service delivery networks, and managed care organizations throughout the United States, and pharmaceutical firms in Europe and Asia.
About Intervention Insights
Intervention Insights is an information technology company on a mission to address the challenges that result from rapid changes in the science, technology and business of next-generation cancer care. Its product, Trapelo, is a win-win solution for doctors, labs and payers that need real-time, evidence-based information and full transparency to make patient-based decisions faster. As part of this commitment, Trapelo is the lead sponsor of The Precision Medicine Podcast a media platform that brings together industry leaders to help accelerate the effective use of precision medicine for cancer care. Tune in and follow us on Twitter @PMPbyTrapelo and on Linked-in.