Toronto-based LifeLabs buys Centogene’s Canadian business

Toronto-based LifeLabs has acquired Centogene‘s Canadian business. No financial terms were disclosed. Based in Germany, Centogene is a provider of genetics testing for inherited diseases. LifeLabs is indirectly owned by OMERS Administration Corp., whose interest is managed by Borealis Infrastructure.

PRESS RELEASE

TORONTO, ONTARIO–(Marketwired – Feb. 19, 2014) – LifeLabs Medical Laboratory Services (“LifeLabs”) announced today the acquisition of Centogene AG’s (‘Centogene’) Canadian business. Based in Germany, Centogene is a world leader in genetics testing for inherited diseases, with not only one of the world’s most extensive genetic test portfolios, but also one of the largest databases of genetic mutations for rare diseases. Centogene performs testing for a number of genetic centres across Canada.

This acquisition places LifeLabs in a leadership role in genetic testing in Canada. Genetic and genomic testing are the fastest growing segments in laboratory medicine and form the underlying basis for ‘personalized medicine’. With this acquisition, all of Centogene’s testing services will continue uninterrupted for Centogene’s Canadian clients. Over the coming months, Centogene’s test portfolio will be transitioned from Germany to LifeLabs’ laboratories in Canada, resulting in an improved level of service and faster turn-around times for Canadians.

“LifeLabs is committed to building a healthier Canada through the delivery of exceptional diagnostic testing, information and service. We are thrilled to partner with Centogene, an established and respected world leader in genetic testing and medical interpretation with a deep understanding of the Canadian marketplace,” said Sue Paish, President and CEO of LifeLabs. “Genetic testing is a significant element of the future of health care in Canada. LifeLabs will work with Centogene, health care providers, patients and other stakeholders so that Canadians benefit from this growing and exciting area in an effective and efficient way.”

In 2013, LifeLabs acquired BC Biomedical in British Columbia and CML HealthCare in Ontario making LifeLabs the largest community laboratory in Canada.

“The purchase of Centogene’s Canadian business is another demonstration of the commitment that LifeLabs has to health care in Canada,” said John Knowlton, LifeLabs Board Chair. “With this purchase, LifeLabs will now have the ability to provide Canadians with a broad menu of high-quality genetic tests to serve their health care needs.”

“This partnership brings together LifeLabs’ Canadian presence, reputation and extensive network of sample collection centres throughout Canada with Centogene’s worldwide experience in genetic diagnostics and result interpretation, supported by our unique mutation database,” said Michael Schlenk, CEO of Centogene. “Working together, we will be able to serve patients and providers in the best possible way – especially since both our companies share the same commitment to patient care, quality and innovation.”

About LifeLabs

LifeLabs is a Canadian-owned company and is the country’s largest provider of community laboratory services with over 50 years of experience providing laboratory testing services to help health care providers diagnose, treat, monitor and prevent disease in patients. In communities across British Columbia and Ontario, LifeLabs delivers cost-effective, convenient access to laboratory testing services which are essential for optimal outcomes in health care. LifeLabs employs approximately 5,400 professionally trained staff and delivers over 100 million laboratory tests, serving 19 million patients annually. In 2013, LifeLabs acquired BC Biomedical in British Columbia and CML HealthCare in Ontario making LifeLabs the largest community laboratory in Canada. LifeLabs is indirectly owned by OMERS Administration Corporation, whose interest is managed by Borealis Infrastructure. For more information, please visit: www.LifeLabs.com.

About Borealis Infrastructure Management Inc.

Borealis is a leader in direct infrastructure investing with over a decade of investment experience. Borealis manages approximately CAD 10 billion in OMERS equity capital through investments in a diversified portfolio of large-scale infrastructure assets exhibiting stability and strong cash flows, in sectors including energy, transportation and government-regulated services. It has offices in Toronto, London and New York. Borealis is the infrastructure investment arm of OMERS. For more information please visit: www.borealis.ca.

About OMERS

OMERS is one of Canada’s largest pension funds with over $60 billion in net assets. It provides first-class pension administration and innovative products and services to over 430,000 members. Approximately one in every 20 employees working in the province of Ontario is an OMERS member. Through the OMERS Worldwide brand, our team of investment professionals uses a direct drive, active management investment strategy to invest in public and private market assets, including publicly-traded equities, fixed-income, infrastructure, private equity and real estate. For more information, please visit: www.omers.com or www.omersworldwide.com.

About CENTOGENE

CENTOGENE, founded in 2006, is a worldwide leader in the field of genetic diagnostics for rare hereditary diseases – with the largest test portfolio worldwide. Receiving samples from over 90 different countries allows Centogenea unique insight into epidemiological genetic differences, which is crucial in the medical result interpretation process.

The company is strictly focussing on offering quality molecular genetic diagnostics, underlined by our multiple international accreditations (ISO, CAP, CLIA).

Centogene’s in depth medical expertise is supported by the application of cutting-edge technologies including next generation sequencing, whole exome sequencing (CentoXome®), whole genome sequencing and innovative biomarkers for selected diseases.

Centogene has developed a comprehensive mutation database (CentoMD®) that is pillar to offering high quality diagnostic reporting and medical interpretation, thoroughly interpret each patient’s sequence data.

Beside diagnostic services for individual patients, Centogene is also a pivotal partner to multiple renown industrial partners worldwide.

Related Posts

Leave a Reply

PEHUB Community

Join the 12502 members of peHUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Create your free online surveys with SurveyMonkey , the world's leading questionnaire tool.

Look Who’s Tweeting

Psst! Got any hot tips?

  • This field is for validation purposes and should be left unchanged.

PE HUB News Briefs

RSS Feed Widget

Marketplace

VCJ Headlines (subscribers only)

RSS Feed Widget

Buyouts Headlines (subscribers only)

RSS Feed Widget

Reuters VC and PE feed

RSS Feed Widget