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NeoGenomics Acquires Trapelo Health in $65M Deal

NEW YORK – Cancer genetics testing lab firm NeoGenomics said on Wednesday that it has acquired Trapelo Health for $65 million, consisting of $35 million in cash on hand and $30 million in NeoGenomics' common stock.

Fort Myers, Florida-based NeoGenomics will offer Burlington, Massachusetts-based Trapelo's clinical decision support system to providers, payors, and labs to aid precision oncology across all healthcare settings.

Trapelo's support system relies on an evidence-based framework to capture and codify results of clinical research as it becomes available, informing which biomarkers are appropriate and should be tested for each patient. The system also aligns patients' cancer diagnoses, molecular test results, national guidelines, US Food and Drug Administration indications, and payors' policies to provide clinicians with an overview of treatment options.

The startup's platform also helps improve clinical trials matching, streamlines workflows, and guides real-time alignment with the most current clinical evidence.

"The addition of Trapelo to NeoGenomics significantly enhances our ability to provide customers with information to help them answer difficult and complex questions related to precision oncology biomarker testing and treatment options," Douglas VanOort, chairman and CEO of NeoGenomics, said in a statement. "Trapelo's impressive proprietary evidence-based knowledge system, combined with NeoGenomics' comprehensive, multi-modality test menu, will enable providers to implement precision oncology and give patients the confidence that they are receiving the most effective level of care based on their personal circumstances."