Interpace sells Pharma Services unit to Flagship for $7M; expects ~$5M annual cash flow improvement

INTERPACE BIOSCIENCES, INC.

Sold Pharma Solutions business to Flagship Biosciences for ~$7M cash at close (plus up to $2M earnout based on revenue).
Transaction improves operating cash flow by nearly $5M annually, per CEO.
Pro forma: six-month 2022 operating loss narrows from $5.8M to $2.9M after sale.
Company becomes focused molecular diagnostics firm (PancraGEN, ThyGeNEXT, ThyraMIR, RespriDX, BarreGEN).
Ampersand and BroadOak affiliates provided equity to Flagship; Ampersand holds ~4.7M shares of Interpace common via Series B.

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