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January 7, 2013
NEW YORK, January 7, 2013 — Covington & Burling advised Illumina, Inc. on its announced acquisition of Verinata Health, Inc. for cash consideration of $350 million plus up to $100 million in milestone payments through 2015.
Upon completion of the acquisition, Illumina will have access to the Verinata’s verifi® prenatal test, the broadest non-invasive prenatal test available today for high-risk pregnancies, and to the most comprehensive intellectual property portfolio in the non-invasive prenatal test industry.
Covington’s team was led Jack Bodner, with assistance from Scott Smith, and associates Dan Levine and Larry Bartenev. The team also included Peter Schwartz and Ira Palgon (financing), Rob Heller (tax), Ellen Corenswet (venture capital), Bruce Deming and Scott Anthony (California corporate and employment matters), Ben Hoch (bankruptcy), Mike Francese and Will Woolston (benefits), Scott Danzis and Peter Safir (regulatory), Keir Gumbs (securities), and Jessica Milner (IP).
Illumina is a leading developer, manufacturer, and marketer of life science tools and integrated systems for large-scale analysis of genetic variation and function. Verinata is a leading provider of non-invasive tests for the early identification of fetal chromosomal abnormalities.