Alibaba-backed Prenetics acquires UK-based DNAFit, a global leader in consumer genetic testing.
# With over US $50m in funding from Alibaba Hong Kong Entrepreneurs Fund and Ping An Insurance, this marks Prenetics 1st acquisition.
# Prenetics operations to have a global footprint, spanning Hong Kong, Singapore, Malaysia, Thailand, Vietnam, Philippines, Taiwan, South Africa, U.K., and USA.
# DNAFit working alongside blue-chip firms including LinkedIn, Talk Talk and Channel 4.
Prenetics, a leading genetic testing & digital health company, has acquired UK-based DNAFit, a leading direct to consumer genetic testing company with sales in over 40 countries.
Prenetics adds a proven B2C channel via the acquisition of DNAFit, supplementing its current strength in B2B product partnership offerings through large insurers and corporates. This acquisition further sets Prenetics on track of achieving its goal of empowering millions of people globally with powerful and actionable genetic information.
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.
DNAFit is a pioneer in direct to consumer genetic testing and has developed a strong reputation in the industry. 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.”
“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. In just a short time, Prenetics has already empowered several hundred thousand individuals with valuable health information. Through this acquisition, we will work together to underpin the industry’s growth as consumers seek more help in their quest for healthier lifestyles.”Avi Lasarow, CEO of DNAFit
DNAFit is a wellness genetics company which matches both ordinary individuals and elite sportspeople to the diet, nutrition and fitness plans that best suit their DNA. Since 2013, it has helped people globally make better informed decisions around their diet, nutrition and fitness goals.
DNAFit will be expanding its reach into corporate wellness as well as growing its existing consumer business following the acquisition. Having already worked closely with a number of blue chip companies and brands, such as LinkedIN Global, Talk Talk, Channel 4, Disney Europe, PUMA, BNP Paribas and Alexander McQueen, DNAFit has already achieved initial success in embedding its products in HR programmes to improve employee benefits worldwide.
“Part of our mission here at Alibaba is to help companies we invest in go global and to make a big impact. We have been highly impressed with what Prenetics and DNAFit have achieved in making health a choice for many. The consumer market globally for genetic health testing is growing at an incredible speed and we look forward to working closely with both companies in the field of genetics.”Cindy Chow, Executive Director of Alibaba Hong Kong Entrepreneurs Fund
DNAFit will continue to operate its own brand which enjoys a leading presence among consumers worldwide. DNAFit’s founding and core team – CEO Avi Lasarow will continue to lead the business. In addition, Avi Lasarow is appointed CEO of Prenetics International and a member of the Prenetics board. Prenetics Limited will officially now be Prenetics Group Limited with Danny Yeung as CEO, overseeing a team of 120+ in 10 countries.
Prenetics is a leading genetic testing/digital health company headquartered in Hong Kong and London, with offices in 10 countries globally. They empower individuals with valuable health information. With a simple saliva sample, individuals can discover how their genes affect their diet, drug response, disease and cancer risk.
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