Avego Healthcare Capital has made an investment in Ellie Diagnostics, a veterinary diagnostics laboratory. No financial terms were disclosed.
DALLAS, Nov. 10, 2021 /PRNewswire/ — Ellie Diagnostics is pleased to announce a new capital partnership with Avego Healthcare Capital. Through this strategic investment, Avego will support Ellie in the expansion of its unique position as the leading independent diagnostic provider for veterinarians in the United States.
“Veterinarians will benefit tremendously from this new strategic partnership,” said Mark DeCourcy, CEO of Ellie Diagnostics. “We are thrilled to leverage this capital partnership to develop innovative new tools to enhance clinical outcomes and improve the diagnostic experience for our U.S. customers. Our new partners at Avego are a perfect fit with the entrepreneurial and innovative spirit that is at the core of both Ellie Diagnostics and the veterinary industry.”
“Avego has been actively seeking to diversify the fund’s human healthcare portfolio, and our investment in Ellie is an exciting first step toward increasing our exposure to the fast-growing veterinary industry,” said Jordan McLean, Vice President at Avego and Director at Ellie. “We are grateful to partner with Mark, a seasoned lab entrepreneur, and look forward to supporting his vision to disrupt a consolidated industry by providing a superior, customer-centric solution for veterinarians.”
About Ellie Diagnostics
Ellie Diagnostics is the fastest growing independent veterinary diagnostics laboratory in the United States, providing innovative services to veterinarians nationwide. Ellie provides next-day lab results, complimentary shipping, pathology consultations, data protection, mobile access to orders and results and innovative laboratory reporting. Their comprehensive test menu includes routine lab testing, histopathology, cytology, microbiology and a wide variety of specialty tests. To learn more, visit www.elliediagnostics.com.
About Avego Healthcare Capital
Avego Healthcare Capital is the private equity arm of Avego Management (“Avego”), a multi-strategy healthcare-focused investment firm with offices in Georgia and New York. Avego was founded in 2015 by former healthcare entrepreneurs and focuses its investment activity on companies developing and commercializing innovative products and services for patients, practitioners, and other stakeholders across the healthcare continuum. Avego Healthcare Capital’s investment approach involves actively supporting leadership teams as they navigate risks and opportunities during impactful stages of business evolution and growth. To learn more, visit www.avego.com.