BioReference Reports Purchase of Edge BioSystems' Service Business, No Terms Disclosed

BioReference Laboratories, Inc.

announced today that it has entered into a definitive agreement for the acquisition of Edge BioSystems CLIA laboratory business and related assets ("Edge BioServ"), primarily a genetic sequencing service business located in Gaithersburg, MD. GeneDx, BRLI's wholly-owned clinical diagnostic sequencing laboratory, will acquire the Edge BioServ genetic sequencing services business, which service has been offered to a national list of customers. The acquisition will include sequencing equipment and capabilities that are expected to enhance the ability of GeneDx to maintain and improve its position as a premier provider of clinical genetic sequencing services. GeneDx is one of the leading full service genetic laboratories in the world and the Company believes the additional capacity and technical expertise that will result from this acquisition will greatly enhance the opportunity for further growth and expansion of the GeneDx service offerings. The acquisition will provide GeneDx with additional equipment on multiple testing platforms operating in a CLIA-certified environment as well as additional infrastructure for R&D initiatives. Dean Gaalaas, CEO of EdgeBio, will assume the position of COO at GeneDx, and will bring with him many of the talented R&D personnel, including experienced bioinformatics developers.