A private investment company in the healthcare and life sciences niche, NovaQuest Capital Management, recently announced its sizeable investment in Informed DNA. Informed DNA is a popular name in the league of the genetics services provider.
In order to raise sufficient investment that can effectively fuel the growth of Informed DNA, NovaQuest partnered with two other firms, Frist Cressy Ventures, and TripleTree Capital Partners. The announcement further highlighted that the investment will be directed at expanding the company’s staff and scaling the genetics services that are widely based on tech-solutions.
Being a private transaction, details of the terms and conditions of the agreements were not divulged. As per the sources, Informed DNA’s current management team will remain the same as the team works under the CEO David Nixon.
CEO Nixon’s Comments On The NovaQuest’s Investment
CEO Nixon commented on NovaQuest’s recent investment and stated:
“We are thrilled to work with NovaQuest, TripleTree Capital Partners, and Frist Cressy Ventures, as we bring more clarity and expertise to the increasingly complex genetics space. Nearly a third of all genetic tests are ordered in error, negatively impacting patients, payers, and providers. This investment will allow our organization to bring its technology-enabled genetic expertise to the people and companies that need it most to help enable better decision-making, improve outcomes, and lower costs.”
The genetic market is expanding at a rapid pace. There are tens of new tests that hit the market on a monthly basis that add to the complications for the experts in not only choosing but appropriately interpreting such tests. Consequently, the costs for patients as well as for payers continue to rise exponentially. Informed DNA has the title of being the largest genetic services provider in the U.S that currently employs over 85 counselors. On one hand, the provider helps insurance companies to have an in-depth understanding of how to confine costs while ordering genetic tests. Such insight helps the insurers establish acceptable policies. On the other hand, Informed DNA takes pride in helping healthcare professionals in trial processes and making accurate clinical decisions.
Informed DNA Has Doubled Its Staff Since 2017
Since 2017, Informed DNA has increased its counseling staff to double while posting a massive 50% in terms of annual growth. The company was established in 2007 as the pioneer of service providers that connected patients with the genetic counselors via the telephone. Over time, the company added tech-solutions for patients, providers, pharmaceutical organizations, life sciences companies, and health systems at large.