China-based BGI-Shenzhen, through its subsidiary Beta Acquisition, has purchased Complete Genomics, a provider of whole human genome sequencing services.
US-based Complete's products include advanced informatics and analysis systems that provide genomic information to better understand the prevention, diagnosis and treatment of diseases.
BGI, which will purchase all of Complete's outstanding shares of common stock for $3.15 per share, will operate Complete as a separate subsidiary and provide a broad array of genomic research technology across various platforms.
Complete CEO Clifford Reid said, "Complete and BGI share a vision of how whole genome sequencing can revolutionize clinical medicine."
BGI-Shenzhen CEO Wang Jun said the acquisition will benefit the company's genomic research by including Complete's whole human genome sequencing technology.
"We look forward to working together to support the advancement of innovative biotechnology, healthcare and other related fields," Jun added.
