Myriad borrows $200 million of term loans to fund Assurex purchase

By Tali Rackner

Norfolk, Va., Sept. 1 – Myriad Genetics, Inc. borrowed $200 million in terms loans on Wednesday under a new credit agreement with agent JPMorgan Chase Bank, NA, according to an 8-K filing with the Securities and Exchange Commission.

The term loans mature on Aug. 31, 2017.

Proceeds were used to finance the company’s acquisition of Assurex Health, Inc., refinance existing debt of Assurex and for working capital and other general corporate purposes.

The credit agreement contains customary loan terms, interest rates and representations and warranties and usual and customary affirmative and negative covenants.

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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