Prenetics Global announced that it is acquiring a majority stake in ACT Genomics Holdings Company Limited, an Asia based genomics company specializing in precision oncology with operations in Hong Kong, Taiwan, Japan, Singapore, Thailand and in the UK. Under the terms of the transaction agreement, Prenetics has agreed to issue 19.9M shares of Prenetics’ class A ordinary shares and pay $20M in cash for a majority stake in ACT. Prenetics expects ACT to contribute approximately $25M-30M in revenues in 2023. The acquisition expected to complete on or around December 30, 2022, subject to normal closing conditions.
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