New Jersey company Cancer Genetics Inc. (CGI) announced Monday that it had signed a letter of intent to acquire Morrisville-based Gentris Corp. for $4.75 million.
CGI (Nasdaq: CGIX) plans to pay $3.25 million in cash and $1.5 million in CGI stock plus performance-based earnouts of up to $1.5 million for the company. The transaction will be treated as an asset purchase.
Existing employees at the Morrisville lab should not see their jobs change, but the size of the facility’s staff will likely…