Veracyte to Buy Convergent Genomics for $150 Million
The cancer diagnostics company will add Convergent’s UroAmp urinary tumor DNA platform, with up to $30 million more tied to reimbursement milestones.
Veracyte, Inc. (VCYT), a cancer diagnostics company, agreed to acquire Convergent Genomics for $150 million in upfront cash and up to $30 million in additional cash tied to milestones related to UroAmp reimbursement efforts.
The all-cash deal adds Convergent’s UroAmp platform, including proprietary urinary tumor DNA (utDNA) technology, to Veracyte’s product portfolio.
“Bladder cancer care is advancing quickly, yet clinicians and patients still face significant uncertainty at critical decision points,” said Marc Stapley, Veracyte’s chief executive officer. “UroAmp brings a differentiated urine-based platform that is especially well suited to non-muscle-invasive disease”.
Veracyte’s existing franchise centers on tissue-based cancer tests. Decipher, a genomic classifier for prostate cancer, generated $66.6 million of revenue in the first quarter of 2025, up 33% from a year earlier, and the company launched limited access to Decipher for metastatic patients during that period. Afirma, a thyroid-cancer classifier, contributed $38.3 million of revenue. Total first-quarter revenue was $114.5 million, up 18%.
UroAmp extends that testing model into bladder cancer with a urine-based assay rather than a tissue biopsy. The contingent $30 million is keyed to reimbursement progress on UroAmp, a structure that aligns additional consideration with the commercial pathway for the new test.
The deal sits in a run of cash acquisitions in precision oncology diagnostics. CareDx agreed in April 2026 to buy Naveris for $160 million upfront plus up to $100 million in revenue milestones, extending its precision-medicine testing into viral-mediated cancer MRD surveillance. Tempus agreed in July 2026 to acquire Personalis for $16.25 a share, a $1.5 billion enterprise value, to fold tumor-informed MRD into its AI-enabled oncology platform. Fulgent Genetics closed a combined $56.9 million cash purchase of Bako Diagnostics and StrataDx in March 2026.
Veracyte ended the first quarter of 2025 with $287.4 million of cash, cash equivalents and short-term investments after generating $5.4 million of cash from operations.
The acquisition adds a differentiated urine-based platform for non-muscle-invasive bladder cancer. Additional cash of up to $30 million will be paid if UroAmp reimbursement milestones are met.