Invitae To Acquire Ciitizen - Quick Facts

(RTTNews) - Invitae (NVTA) has entered into a definitive agreement to acquire Ciitizen, a consumer health tech company. Under the agreement, Invitae will acquire Ciitizen for approximately $325 million, consisting of approximately $125 million in cash and approximately 7.07 million shares of Invitae common stock.

Ciitizen enables patients to collect, store and share their medical records in a single location. Ciitizen developed machine learning and AI technologies to abstract critical information from unstructured health records to advance the understanding of diseases.

Invitae said the acquisition would enhance its platform by providing patients an easy-to-use, centralized hub for their genomic and clinical information.