Myriad Genetics plans new debt financing for Assurex purchase

By Sara Rosenberg

New York, Aug. 4 – Myriad Genetics Inc. has received a commitment for debt financing from JPMorgan Chase & Co. to help fund its acquisition of Assurex Health, according to a news release.

Other funds for the transaction will come from cash on hand.

Assurex is being bought for $225 million upfront with the potential for $185 million in additional performance-based milestones.

Closing is expected at the end of Myriad’s first quarter of fiscal year 2017, subject to customary conditions and regulatory approvals.

Myriad is a Salt Lake City-based personalized medicine company. Assurex is a Mason, Ohio-based informatics-based precision medicine company.

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