Invitae Divests Ciitizen Health Data Platform and Implements Further Cost Cuts

Invitae (NYSE: NVTA), a leading medical genetics company, announces strategic changes to streamline operations and reduce operating cash burn. The company has divested the assets of Ciitizen and announced strategic cost cuts, which will include a workforce reduction and other operating expense reductions. Ciitizen is a patient-centric consumer health tech platform that helps patients collect, organize, store and share their medical records digitally. With the divestiture, the Ciitizen assets have been transferred to a new entity established by the leadership team of the Ciitizen business and funded by a group of venture capital investors. Invitae maintains a minority equity interest in this newly formed company.

Read the full article: Invitae Divests Ciitizen Health Data Platform and Implements Further Cost Cuts //

Source: https://www.prnewswire.com/news-releases/invitae-divests-ciitizen-health-data-platform-and-implements-further-cost-cuts-302014675.html

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