HomeNews & PressAssurex Health to be Acquired by Myriad Genetics Assurex Health to be Acquired by Myriad Genetics August 3, 2016News & Press Leader in Precision Medicine for Mental Health Treatment Decisions Sees Significant Strategic Benefits; Will Keep Headquarters in Mason, Ohio MASON, Ohio, August 3, 2016 – Assurex Health, the world leader in genetic testing to guide behavioral health medication decisions, today announced it will become a wholly-owned subsidiary of Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in molecular diagnostics and personalized medicine, according to Virginia C. (Gina) Drosos, president and CEO of Assurex Health. “We are excited to be joining the global leader and pioneer in personalized medicine,” said Drosos, who will continue to serve as president of Assurex Health. “Myriad has the reimbursement, regulatory and commercial expertise to help take our business to the next level and ensure that even more patients can benefit from better outcomes through our GeneSight tests.” “Assurex Health brings to Myriad GeneSight®, one of the fastest growing new diagnostic tests in a multi-billion dollar global market,” said Mark C. Capone, president and CEO, Myriad Genetics. “Importantly, this acquisition provides a commercial channel into the neuroscience market, which we believe will be one of the highest growth areas for personalized medicine.” Headquarters to Remain in Mason, Ohio Assurex Health also said that its headquarters will remain in Mason, Ohio, building on the city’s innovative public-private partnership that allowed the company to flourish in the region. Assurex Health employs more than 450 people, including over 250 in Mason, a number that has more than doubled in the past three years. Assurex Health was founded in 2006 with patented technology licensed from Cincinnati Children’s Hospital Medical Center, the world’s leading pediatric research center, and Mayo Clinic, which continue to be research collaborators. The company also received critical early support from the seed fund CincyTech and other seed-stage investors, as well as the City of Mason and the state of Ohio’s JobsOhio program. “The collaboration between Cincinnati Children’s, Mayo Clinic and CincyTech was the catalyst for creating Assurex Health and provided the intellectual property that served as the foundation of the company and its products,” Drosos noted. Access to top talent, venture funding, strong science partnerships with Cincinnati Children’s and leading Midwest universities, and a beneficial cost structure—including the affordable lifestyle and economic incentives that Mason and Ohio offer—are fundamental to the company’s commitment to the region. “We are committed to the growing biohealth corridor here,” Drosos said. “It is an outstanding environment in which to continue to build our company and assist healthcare providers in helping people with mental illness achieve mental wellness.” Will Realize Significant Benefits Combining Assurex Health with Myriad Genetics offers the companies a number of compelling benefits, including continuing work to expand acceptance of GeneSight by commercial payors. The combination also integrates Myriad’s comprehensive primary care sales team with Assurex Health’s industry-leading psychiatric sales force. Drosos said that the deal provides additional benefits. “Myriad’s international operations can help to expand Assurex Health’s reach outside of the United States and Canada,” Drosos said. “Importantly, we will continue investing in our research and development programs to further demonstrate the clinical utility of the GeneSight test and expand its use in new indications. “We believe that this step gives us the best opportunity to accelerate the achievement of our mission, which is to help patients with psychiatric disorders, chronic pain and other neurologic conditions achieve wellness. Together with Myriad, we can help more people get on a path to mental wellness.” Terms Disclosed Assurex Health said that the agreement was for $225 million upfront with the potential for $185 million in additional performance-based milestones. Assurex Health was advised on the transaction by the banking teams of Goldman Sachs and Leerink Partners as well as legal counsel from Latham & Watkins and Thompson-Hine. About Assurex Health Assurex Health is an informatics-based, personalized medicine company providing treatment decision support to healthcare providers for behavioral health and chronic pain conditions. We help people achieve mental wellness with advanced CPGx®, a proprietary combinatorial pharmacogenomics technology providing individualized treatment support for neuropsychiatric conditions. Assurex Health is the only company in the category with multiple peer-reviewed, published studies that demonstrate the clinical validity and clinical utility of its test, GeneSight®, including its substantial healthcare cost savings benefit. The company has grown every quarter and has expanded internationally through a partnership with Canada’s Centre for Addiction and Mental Health (CAMH). For more on how Assurex Health is helping people gain mental wellness, visit www.AssurexHealth.com and www.genesight.com. About Myriad Genetics Myriad Genetics Inc. (NASDAQ: MYGN) is a leading personalized medicine company dedicated to being a trusted advisor transforming patient lives worldwide with pioneering molecular diagnostics. Myriad discovers and commercializes molecular diagnostic tests that: determine the risk of developing disease, accurately diagnose disease, assess the risk of disease progression, and guide treatment decisions across six major medical specialties where molecular diagnostics can significantly improve patient care and lower healthcare costs. Myriad is focused on three strategic imperatives: transitioning and expanding its hereditary cancer testing markets, diversifying its product portfolio through the introduction of new products and increasing the revenue contribution from international markets. For more information on how Myriad is making a difference, please visit the Company’s website: www.myriad.com. Myriad, the Myriad logo, BART, BRACAnalysis, Colaris, Colaris AP, EndoPredict, myPath, myRisk, Myriad myRisk, myRisk Hereditary Cancer, myChoice, myPlan, BRACAnalysis CDx, Tumor BRACAnalysis CDx, myChoice HRD, Vectra and Prolaris are trademarks or registered trademarks of Myriad Genetics, Inc. or its wholly owned subsidiaries in the United States and foreign countries. Patient Can an App Help Me Manage My Anxiety? Health and wellness smartphone apps have become so common that if you can name a health goal, desire or condition, you can probably find an app for it. N... Read more Patient Black Trailblazers of Psychiatry and Mental Health: A Legacy of Healing and Advocacy As we celebrate Black History Month, we want to recognize a few individuals who have made extraordinary contributions to the field of psychiatry and mental heal... 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What Healthcare Providers Should Know People who stop taking antidepressants may do so for many reasons: they may feel like it isn’t working, may feel unable to cope with side effects, or may not fe... Read more Learn more Learn more about GeneSight How to talk to your provider View our clinical studies
Patient Can an App Help Me Manage My Anxiety? Health and wellness smartphone apps have become so common that if you can name a health goal, desire or condition, you can probably find an app for it. N... Read more
Patient Black Trailblazers of Psychiatry and Mental Health: A Legacy of Healing and Advocacy As we celebrate Black History Month, we want to recognize a few individuals who have made extraordinary contributions to the field of psychiatry and mental heal... Read more
Patient Mindful Moments: Tips for Anxiety If a well-meaning friend or family member has ever told you to “just breathe” when you’re feeling worked up or stressed out, you’d be forgiven if you felt l... Read more
Patient Hints To Help You Have A Better New Year The holidays have ended, and a new year has begun—a time when many embrace a fresh start by setting New Year’s resolutions. This year, why not consider s... Read more
Patient Movement as Medicine: Solutions for Anxiety Moving forward. It sounds like a nice idea, especially when you’re feeling stuck deep in the throes of an anxiety spiral. But it turns out that physically m... Read more
Patient Weight-Loss Drugs and Mental Health: What You Need to Know New medications for weight loss seem to be flying off pharmacy shelves these days. But could they be linked to mental health conditions? Researchers are ... Read more
Patient 3 million patients (and counting!) have now taken the GeneSight test! We’re thrilled to share that 3 million patients (and counting!) have now taken the GeneSight test! We're so grateful to the dedicated healthcare providers who... Read more
Patient The Model Minority Myth and Mental Health The model minority myth stereotypes one cultural group, typically Asian Americans, as “intelligent, hard-working, and diligent and therefore more academically, ... Read more
Healthcare Provider How Clinicians Can Help Support Their Patients Who Are Being Bullied How Clinicians Can Help Support Their Patients Who Are Being Bullied Acts of bullying can cause feelings of fear, loneliness and sadness, as well as depressi... Read more
Patient Cyberbullying: Unique Challenges and Impacts ‘We lost our daughter to cyberbullying.’ McKenna Brown was an accomplished hockey player and scholar, known for her kindness, when she became the target of int... Read more
Going Beyond Green, Yellow, Red on the GeneSight Report This blog summarizes key points discussed during the March 2024 GeneSight® Engage webinar Participants: Bernie Ranchero, MD, MS, MBA, medical direc... Read more
Healthcare Provider Top 5 Reasons Patients Stop Their Mood Disorder Treatment Mood disorder treatment for depression can be challenging – and patients may become frustrated when treatments don’t work. In fact, when people with depres... Read more
Patient The Impact of Gratitude on Depression and Anxiety “Say ‘Thank you,” a mother reminds her young kiddo. “T.G.I.F.!” we cheer at the end of a long week. We know it’s important to be thankful. But do we ... Read more
Patient The Silent Thief: The 5 Things Depression Can Steal “Depression is a thief,” writes Abhinav Chaurasia, a marketing automation specialist in an essay on LinkedIn. “It steals your joy, your motivation, and your abi... Read more
Patient How to Talk to Your Doctor about Anxiety Medication “When I was 27, I felt bad all the time,” writes Joanna Goddard on the popular Cup of Jo blog. She describes her initial experience with anxiety in detail. ... Read more
Healthcare Provider Building Trust by Reducing Bias: The GeneSight Test as a Tool for Mental Health Equity This blog summarizes key points discussed during Myriad Mental Health’s July 2022 Webinar: Building Trust by Reducing Bias: The GeneSight Test as a Tool for Men... Read more
Patient Anxiety and older adults: What to look for and how to help “It’s not how old you are. It’s how you are, old.” - French author Jules Renard Mental health is important at every age. But when people experience an a... Read more
Patient Adult ADHD: Symptoms, treatment, where to start Many people may incorrectly think ADHD, or attention-deficit/hyperactivity disorder, only impacts children. After all, according to the Centers for Disease C... Read more
Healthcare Provider It’s time to talk suicide: addressing stigma around a difficult topic Trigger Warning: This webinar discusses suicide. If you or someone you know has suicidal thoughts, please call the National Suicide Prevention Lifeline at 988. ... Read more
Patient Stress Relief Methods for Family Caregivers Caring for a loved one can be a rewarding and meaningful experience. However, the day in and day out of taking care of someone who is unwell also can be challen... Read more
Healthcare Provider Healthcare Professional Burnout and Links to Depression When Dr. Lorna Breen, an ER doc in Manhattan, died by suicide in April 2020, it opened up a public discussion about the burdens faced by healthcare professi... Read more
Healthcare Provider Antidepressant Withdrawal or Depression Reoccurrence? What Healthcare Providers Should Know People who stop taking antidepressants may do so for many reasons: they may feel like it isn’t working, may feel unable to cope with side effects, or may not fe... Read more