Myriad Genetics Announces New $200 Million Credit Facility

SALT LAKE CITY, July 31, 2025 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ:MYGN), a leader in molecular diagnostic testing and precision medicine, today announced it has closed a five-year senior secured term loan credit facility providing up to $200 million of capital from OrbiMed, a leading global healthcare investment firm. The facility includes $125 million of funded capital with an option to borrow up to an additional $75 million until June 30, 2027. This facility matures on July 31, 2030, and bears interest at a rate based upon the one-month secured overnight financing rate (SOFR) plus 6.50% per year, subject to a SOFR floor of 2.50% per year.

"We are excited to partner with OrbiMed, a leading global healthcare investment firm. We value their insight and financial backing, which supports our ability to pursue our near-term objectives and long-term growth plan," said Scott Leffler, chief financial officer, Myriad Genetics. "Between this credit facility and our cash and cash equivalents, we now have access to more than $200 million in capital to support the company's growth strategy, which we will speak to in more detail on our upcoming second quarter earnings call."

"We are ...