Healthcare investor GHO Capital has acquired DNA-based diagnostic services provider DNA Diagnostics Center (DDC), from MTS Health Investors for around $110m (€104m).
DDC provides comprehensive DNA testing services for paternity and other family relationships, forensics, cell line authentication and ancestry.
GHO Capital executive partner and founder Mike Mortimer said: "The field of genetic diagnostics is an attractive, high growth segment within healthcare and, as a well-established business with significant global potential, DDC is an excellent fit for GHO Capital’s investment strategy."
The platform technology of DDC offers products in the fields of biological family relationship testing, veterinary services, forensic services and medical applications for the pharma industry, including cell-line authentication.
The firm has implemented robotics technology in its laboratory processes for effective handling of DNA samples.
Under the Dual Process, the company independently tests all DNA samples twice, to produce better results.
DDC has European operations in London, UK, and the US operations in Fairfield, Ohio. It currently processes around 750,000 tests per annum, and employs 245 people.
In 2011, DDC acquired Orchid Cellmark’s government paternity business. Orchid Cellmark offered parentage testing services to government agencies since 1979.
DNA Diagnostics Center president and CEO Peter Vitulli said: "With a leading platform and broad customer base, DDC has delivered double-digit growth in recent years and is poised for continued expansion in Europe and internationally.
"We have found a differentiated, specialist partner in GHO Capital and we look forward to working together on the next phase of DDC’s continued growth."
Image: GHO Capital expects to get a foothold in genetic diagnostics with the deal. Photo: courtesy of Stockimages / FreeDigitalPhotos.net.