Four details:
1. Invitae will purchase Ciitizen for $325 million and will issue an additional $225 million in restricted stock units to new employees who join the company in connection with the acquisition, according to a Sept. 7 news release.
2. Mr. Sethi left Apple Health to start Ciitizen after his sister died from cancer; the company’s mission is to improve patient health records so researchers and physicians can more easily use that information to improve cancer care.
3. By acquiring Ciitizen, Invitae will provide patients using its platform access to a centralized hub for their genomic and clinical data. Invitae’s focus is on aggregating genetic test results into a single service that makes genetic data accessible for research, with patient consent.
4. Invitae has completed 13 acquisitions over the past five years and has raised more than $1.4 billion since the beginning of 2021.
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