Hong Kong genes testing start-up Prenetics buys UK peer DNAFit to broaden consumer reach

Gene testing company Prenetics has acquired UK-based DNAFit to expand its global footprint and extend its reach in the consumer market.

Prenetics, which partners with insurers to provide genetic profiling to help people tailor their diets, do family planning and assess the risk of hereditary cancers, paid for the purchase by cash and in shares, said chief executive Danny Yeung. 

DNAFit works directly with consumers, using their genetic information to help them achieve their health, fitness and nutritional goals.

Yeung, a San Francisco native who moved to Hong Kong in 2010 to set up the purchasing platform uBuyiBuy that was later acquired by Groupon, declined to divulge the acquisition price.

He left Groupon, where he was head of East Asia, to set up Prenetics in 2014. The company has bases in Hong Kong and the UK. 

“Prenetics adds a proven [business-to-consumer] channel via the acquisition of DNAFit, supplementing its current strength in [business-to-business] product partnership offerings through large insurers and corporates,” the company said in a statement on Tuesday.