Verily to Acquire Guardant Health for $5.1B

TL;DR

Alphabet's Verily is buying Guardant Health for $5.1B to boost cancer diagnostics.

AI Summary

Guardant Health, Inc. announced on May 23, 2024, that it has entered into a definitive agreement to be acquired by Verily Life Sciences, a subsidiary of Alphabet Inc. The transaction is valued at approximately $5.1 billion. This acquisition aims to combine Guardant Health's leadership in liquid biopsy with Verily's data analytics and AI capabilities to advance precision oncology.

Why It Matters

This acquisition could significantly accelerate the adoption of liquid biopsy technology in cancer detection and treatment, potentially leading to earlier diagnoses and more personalized therapies for patients.

Risk Assessment

Risk Level: medium — The acquisition is subject to customary closing conditions, including regulatory approvals and stockholder approval, which introduce a degree of uncertainty.

Key Numbers

• $5.1B — Acquisition Value (Total amount Verily is paying for Guardant Health.)

Key Players & Entities

• Guardant Health, Inc. (company) — Registrant
• Verily Life Sciences (company) — Acquiring entity
• Alphabet Inc. (company) — Parent company of Verily
• May 23, 2024 (date) — Date of agreement
• $5.1 billion (dollar_amount) — Acquisition valuation

FAQ

From the Filing

0001193125-24-146510.txt : 20240524 0001193125-24-146510.hdr.sgml : 20240524 20240524070100 ACCESSION NUMBER: 0001193125-24-146510 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240523 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240524 DATE AS OF CHANGE: 20240524 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Guardant Health, Inc. CENTRAL INDEX KEY: 0001576280 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MEDICAL LABORATORIES [8071] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 454139254 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38683 FILM NUMBER: 24980784 BUSINESS ADDRESS: STREET 1: 3100 HANOVER STREET CITY: PALO ALTO STATE: CA ZIP: 94304 BUSINESS PHONE: 855-698-8887 MAIL ADDRESS: STREET 1: 3100 HANOVER STREET CITY: PALO ALTO STATE: CA ZIP: 94304 8-K 1 d843201d8k.htm 8-K 8-K false 0001576280 0001576280 2024-05-23 2024-05-23     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): May 23, 2024     GUARDANT HEALTH, INC. (Exact name of registrant as specified in its charter)       Delaware   001-38683   45-4139254 (State or other jurisdiction of incorporation or organization)   (Commission File Number)   (IRS Employer Identification No.) 3100 Hanover Street Palo Alto , California 94304 (Address of principal executive offices) (Zip Code) 855 - 698-8887 (Registrant’s telephone number, include area code)     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, $0.00001 par value per share   GH   The Nasdaq Global Select Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       Item 8.01 Other Events. On May 23, 2024, Guardant Health, Inc. (the “Company”) issued a press release announcing that the U.S. Food and Drug Administration’s (the “FDA”) Molecular and Clinical Genetics Panel of the Medical Devices Advisory Committee has strongly recommended FDA approval of the Company’s Shield blood test to screen for colorectal cancer in adults age 45 and older who are at average risk for the disease. The advisory committee panel members voted on three questions regarding the use of Shield in patients who meet the criteria specified in the proposed indication. They voted 8 to 1 favorably that there is reasonable assurance Shield is safe, 6 to 3 favorably that there is reasonable assurance Shield is effecti