Hong Kong-based genetic testing company Prenetics has acquired DNAFit, a British DNA testing company. With over $50m (£34.8m) in funding from Chinese retail giant Alibaba and Ping An Insurance, this is Prenetics' first acquisition.
The sale marks a further expansion into the UK market by Prenetics, although the company already has operations in the UK as well as the US, South Africa, Singapore and Malaysia. It is one of the largest genetic testing and digital health companies in Southeast Asia.
Danny Yeung, CEO and co-founder of Prenetics said: “Our mission is to give everyone the power to be in control of their own health. We are extremely excited to have DNAFit as part of our international growth strategy to help people lead healthier, more active lives by empowering them with personalised, preventive, and actionable genetic information.”
DNAFit uses genetic testing to match both ordinary individuals and elite sportspeople to the diet, nutrition and fitness plans that best suit their DNA. It has worked internationally with companies like LinkedIN, Channel 4, BNP Paribas and Alexander McQueen.
“In joining forces with Prenetics, this takes us one step further in our mission to change the way individuals adapt their lifestyle behaviours by understanding how genetics plays an important role in personalised & preventive health,” said Avi Lasarow, CEO of DNAFit. “Through this acquisition, we will work together to underpin the industry's growth as consumers seek more help in their quest for healthier lifestyles.”
DNAFit will continue to operate its own brand, and its core team will continue to lead the business. In addition, Avi Lasarow has been appointed CEO of Prenetics International and a member of the Prenetics board.