Genetic Testing Co. Invitae Files For Ch. 11 With $1.5B Debt
February 14, 2024
California-based genetic testing company Invitae Corp. has filed for Chapter 11 protection in New Jersey with nearly $1.5 billion in debt and what it said is an agreement with senior noteholders to seek a buyer. In its Chapter 11 filings Tuesday, the company blamed high operating costs and leverage from recent acquisitions along with inflation and rising interest rates.
Invitae is represented by Michael D. Sirota, Warren A. Usatine, Felice R. Yudkin and Daniel J. Harris.
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