Posted: 15 January 2025
Transformative, predictive cancer diagnostics technology company, Rhythm Biosciences Ltd (ASX: RHY) (Rhythm or the Company) advises that it has completed the acquisition of select Australian and US assets related to the Genetype Business from Genetic Technologies Ltd (GTG) (Administrators Appointed) (GTG Administrators).
Completion Details
As follow-up to the acquisition announcement to the market on 23 December 2024, Rhythm has paid the GTG Administrators and select trade creditors the required cash amounts and has assumed the statutory employee entitlements for transferring employees in Australia.
Rhythm CEO and Managing Director, Dr David Atkins said, “We are pleased to have the Genetype business in the RHY Group and we warmly welcome the employees both here and, in the US, and we look forward to working closely with them to accelerate development of the business within the combined company. To this end we have already commenced preliminary discussions on opportunities which canbe leveraged immediately between the businesses and high-level integration planning.”
