CareDx, a precision medicine company focused on transplant patients, has entered into a definitive agreement to acquire Naveris, a commercial-stage precision oncology diagnostics company, for $160 million in upfront cash consideration plus up to an additional $100 million contingent on revenue milestones. The transaction extends CareDx’s strategy into specialty oncology and adds a Medicare-reimbursed liquid biopsy platform addressing a total addressable market of $4.5 billion.
Naveris has developed the NavDx test, a blood-based monitoring solution for viral-mediated cancers that detects tumor-modified viral DNA fragments released into the bloodstream by HPV-driven tumors. The test serves as a highly accurate biomarker supporting patient management from diagnosis through post-treatment molecular residual disease surveillance. NavDx received Medicare coverage in 2023 and is a leading solution for MRD surveillance in head and neck and anal cancers. The company has performed more than 130,000 commercial tests to date and employs approximately 100 people.
Naveris reported unaudited revenue of $34 million in 2025, with first quarter 2026 revenue of approximately $12 million, gross margins of 65%, and a near-breakeven net operating loss of $0.2 million. Revenue is forecast to grow 30 to 40% annually over the next three years. CareDx expects the transaction to be neutral to its 2026 adjusted EBITDA guidance.
The deal is expected to close in the third quarter of 2026, subject to customary closing conditions.
Support: Goldman Sachs is acting as exclusive financial advisor to CareDx, with Fenwick & West serving as legal advisor. J.P. Morgan Securities is acting as exclusive financial advisor to Naveris, with Skadden, Arps, Slate, Meagher & Flom serving as legal advisor.
KEY QUOTES:
“Today’s announcement accelerates our growth strategy in Precision Medicine Testing Services and Patient and Digital Solutions. We are focused on being a leader in concentrated specialty markets where a high burden of disease drives repeat testing. Naveris fits that profile with a differentiated technology that is early in its adoption. Naveris is poised for strong growth, leveraging our core capabilities, building belief in molecular testing, simplifying clinical workflow, and generating evidence for coverage and reimbursement.”
John Hanna, President and CEO, CareDx
“Naveris has developed and commercialized a liquid biopsy monitoring platform proven to detect cancer earlier and with greater accuracy than conventional approaches. We are thrilled to be combining forces with CareDx to fulfill our mission of improving patient outcomes by delivering disruptive technology that transforms cancer care and expanding patient access to precision medicine.”
James B. McNally, Chief Executive Officer, Naveris
