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Ampersand, 1315 Capital Partner Close Acquisition of California Laboratory.

MANews-(C)2009-2017

8 March 2017 - A California based management group led by Joseph M. Limber and its partner, Massachusetts-based private equity firm Ampersand Capital Partners and Philadelphia-based investment service 1315 Capital, have closed the acquisition of the commercial laboratory of California-based oncology diagnostics services company Genoptix, Inc., the companies said.

The companies said financial terms of the transaction are not being disclosed.

Genoptix, a subsidiary of oncology diagnostics and informatics services Novartis, providing oncologists and pathologists in the United States with comprehensive testing solutions in hematology and solid tumor molecular profiling.

Novartis will retain the biopharma business of Genoptix at its current location under a new legal entity within the Novartis Group called Navigate BioPharma Services, Inc.

Ampersand Capital Partners is a private equity firm with a focus on growth equity investments in the healthcare sector. The company has managed more than USD 1.0bn in private equity partnerships.

1315 Capital provides expansion and growth capital to commercial-stage specialty pharmaceutical, medical technology, and healthcare services companies.

Country: USA

Sector: Healthcare

Target: Genoptix/commercial laboratory

Buyer: Management group, Ampersand Capital Partners, 1315 Capital

Vendor: Genoptix

Deal size in USD:

Type: MBO

Financing:

Status: Closed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Date:Mar 8, 2017
Words:204
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