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The Times

Prenetics Acquires ACT Genomics First M&A Deal since IPO Set to Expand Footprint in Cancer Genomics

  • Prenetics will be acquiring a majority stake in ACT Genomics Holdings Company Limited ("ACT") for an upfront consideration consisting of 19.9 million shares of Prenetics common stock and US$20 million cash
  • Prenetics expects ACT to contribute revenues of approximately US$25-30 million in 2023
  • Position Prenetics solidly within the US$80+ billion global precision oncology market
  • Professor Tony Mok, Chairman of ACT, will join Prenetics Scientific Advisory Board, effective from January 1, 2023
  • Acquisition expected to complete on or around December 30, 2022, subject to certain closing conditions
HONG KONG SAR - Media OutReach - 16 December 2022 - Prenetics Global Limited (NASDAQ: PRE) ("Prenetics" or the "Company"), a global leader in genomic and diagnostic testing, is acquiring a majority stake of ACT, an Asia based genomics company specializing in precision oncology with operations in Hong Kong, Taiwan, Japan, Singapore, Thailand and the UK, for an upfront consideration consisting of 19.9 million shares of Prenetics common stock and US $20 million cash (the "transaction").

Read more: Prenetics Acquires ACT Genomics First M&A Deal since IPO Set to Expand Footprint in Cancer Genomics

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