Clinical lab operator Labcorp to buy bankrupt genetic test maker Invitae for $239 million

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Clinical lab operator Labcorp to buy bankrupt genetic test maker Invitae for $239 million

(Reuters) – Laboratory service provider Labcorp said on Wednesday it will acquire Softbank-backed Invitae Corp’s assets auctioned through a voluntary bankruptcy protection process, a few months after the genetic test maker filed for bankruptcy. Labcorp will acquire all of the bankrupt firm’s assets on a going concern basis for $239 million in cash consideration and other non-cash consideration, the companies said in separate statements. In F…