Cancer lab to double sales after $275M deal

FORT MYERS — NeoGenomics says it has agreed to acquire rival cancer-testing laboratory Clarient, a unit of GE Healthcare Life Sciences, in a $275 million deal.

The purchase price includes $80 million in cash, $110 million in preferred stock and 15 million shares of NeoGenomics common stock. NeoGenomics is publicly traded (symbol: NEO; recent price: $5.68). GE Healthcare, with the shares, will own 32% of the combined company after the deal is completed in the fourth quarter.

Clarient is based in Aliso Viejo, Calif., and Houston and has about 415 employees. The company posted revenues of $127 million in 2014 and adjusted earnings of $13 million.