Invitae, a leading genetic healthcare company, announced today that it has signed a contract to acquire Citizen, a patient healthcare technology company. Backed by a16z, Section 32, and of course, Citizen is working to build a global platform to help patients collect, organize, store and distribute their medical records digitally. The acquisition will enhance the Invitae platform by providing patients with an easy-to-use, centralized device for their genetic and clinical information, combining powerful data that can promote diagnosis and improve healthcare decisions.
“Invite strives for the day when genetics are constantly used to improve healthcare for billions of people around the world. And our mission is to accelerate our roll-out into a genetic information center that reports on health throughout a person’s life.
Anil Sethi, President and Founder of Citizen, said: “Citizen has helped patients maintain their medical records so they can receive treatment themselves and submit their data for a variety of purposes, including rare disease screening.” “Patients leave history and we believe that access to this world’s data is key to future self-treatment. Digital signage A consensus-based democracy is expected to improve outcomes by providing more opportunities with patient consent. In many health data centers, we work in the sense that it is patient data, not ours. “
Dr. George went on to say, “Genomics is a company that is testing laboratory experiments, but in the future, it will seem like an information company. It thrives on networks that have a purpose that really promotes health. Patient management is a big difference between citizens and Invitae, we believe that military integration is the right strategy for our ongoing business. “
Empower patients to combine their clinical and genomic information to improve clinical care
Invitae works to compile global genetic testing results into an easy-to-use tool that makes genetic information available to all who can benefit from it, always through patient consent. Over the past five years, Invitae has completed 13 acquisitions that expand its testing menu, lower the cost of its testing, improve its customer experience, and enhance its ability to attract partners.
The addition of Citizen hopes to empower Invitae to expand its platform faster, adding a patient-centric workflow that streamlines the process of collecting and organizing health information from any source and using learning machines to change information health without planning to improve care decisions, find clinical trials and diagnostic tests using real-world evidence. In addition, as the use of Invitae trials and Citizen services spreads, third-party access to genetically modified genetic data and other clinical data may be compromised by democratization to implement different applications, which could boost the growth and the Invitae business plan.
Under the terms of the agreement, Invitae will receive Citizen for approximately $ 325 million (subject to change), which includes (i) approximately $ 125 million and (ii) approximately 7,070,000 of ordinary Invitae products (depending on closing price followed. Date of the contract). Invitae will also provide new hires joining Invitae with around $ 225 million in Restricted Product Areas (RSU) for the Citizen acquisition. These RSUs will be offered under Invitae’s 2015 Invitae Plan, which has been redesigned and redesigned to expand the group of Invitae products below that is used only for certification and compliance with New Stock Exchange Rule 303A.08. York. (“Rule 303A.08”). The Invitae Invitae Committee has approved these RSUs, which will become an incentive for any employee entering employment with Invitae based on removal from employment under Rule 303A.08. These RSUs will cover a total of 8,125,000 Invitae products (depending on the closing price followed before the contract date) and will receive a third each of the first, second, and third days given date, depending on the acceleration if the endpoint is unintentionally caused by Invitae or interrupted by good cause on the part of the recipient. A total of 99 recipients will receive these RSUs, and Anil Sethi, president and founder of Citizen, will receive RSUs approximately 2,011,000 of Invitae products.