Ampersand Capital Partners and 1315 Capital has completed its previously announced acquisition of Genoptix. The seller was Novartis. No financial terms were disclosed. Based in Carlsbad, California, Genoptix is a hematopathology center.
CARLSBAD, Calif., March 7, 2017 /PRNewswire/ — An experienced management team, led by Joseph M. Limber, in partnership with Ampersand Capital Partners and 1315 Capital, has completed the acquisition of Genoptix, Inc. from Novartis. The financial terms of the transaction are not being disclosed.
Headquartered in Carlsbad, California, Genoptix is a recognized leader in its field, and is one of the largest hematopathology centers in the United States. Since 1999, Genoptix has worked with thousands of oncologists and pathologists across the country, providing a comprehensive suite of testing solutions in hematology and solid tumor molecular profiling. More recently, Genoptix pioneered the development and commercialization of a number of proprietary technologies, such as Next Generation Sequencing (NGS) panels based on clinically validated markers.
Joseph M. Limber, who previously served as CEO of Prometheus Laboratories, will lead the new Genoptix as Chief Executive Officer. He will be joined by Mark Spring as Chief Financial Officer and Juan Estruch as Head of Corporate Development, both of whom served with Limber on the executive team at Prometheus Laboratories.
“We are extremely excited to continue to build on the Genoptix brand and renowned history in the field of oncology molecular diagnostics,” said Limber. “Together with the committed employees of Genoptix, we look forward to continuing to innovate and expand our outstanding suite of services and solutions that provide powerful informational tools for clinicians to ultimately improve patient care.”
About Ampersand Capital Partners
Ampersand is a private equity firm with a focus on growth equity investments in the healthcare sector. Over the past two decades, Ampersand has managed more than $1 billion in private equity partnerships. Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Additional information about Ampersand is available at www.ampersandcapital.com.
About 1315 Capital
1315 Capital provides expansion and growth capital to commercial-stage specialty pharmaceutical, medical technology, and healthcare services companies. 1315 Capital leverages experienced investors and proven operating teams to work alongside portfolio company management to rapidly grow platform companies into high value businesses that positively impact patients, physicians, and the broader healthcare system. For more information, visit http://www.1315capital.com.