MLM Medical Labs, which is backed by Great Point Partners, has acquired Memphis, Tennessee-based CirQuest Labs, a specialized lab for the drug development industry. No financial terms were disclosed.
GREENWICH, CONN. AND MOENCHENGLADBACH, GERMANY (PRWEB) JULY 09, 2020
MLM Medical Labs (“MLM”), a Great Point Partners (“GPP”) portfolio company, a specialty central lab based in Germany, today announced it has acquired Memphis, Tennessee based CirQuest Labs (“CirQuest”) as part of its global expansion strategy. With the acquisition of CirQuest, MLM has expanded to the United States and will be able to better serve the needs of its global clients. CirQuest is an industry leader in specialized laboratory services for the drug development industry. CirQuest provides specialized assay development, biomarker testing, and central lab services to its global client base of leading pharmaceutical and life sciences companies.
“CirQuest has an excellent reputation in the centralized lab industry with a core focus on scientific excellence and customized service. A combination with MLM will allow us to better serve our combined customer base through a globally integrated platform,” said Dr. Stephan Wnendt, MLM CEO.
“CirQuest provides key services to many of the world’s leading drug developers. MLM’s acquisition of CirQuest will create a global and nimble central lab platform serving the global clinical trial market,” said Rohan Saikia, Managing Director at GPP.
Dr. Lisa Jennings, Founder and CEO of CirQuest, added “MLM is known globally as a leader in central lab and specialty testing solutions and together we have an extraordinary synergy in terms of our collective focus on scientific excellence and customized services. We are looking forward to joining forces and establishing a fully integrated central lab under one harmonized global brand.”
Finally, MLM is very proud to announce that Thomas Wollman, SVP Finance at Syneos Health, has joined MLM’s Board of Directors as of July 7, 2020. With his more than 25 years of experience in the central laboratory and CRO market, including responsibility for Quintiles’ central lab operations, he will help the team to further develop MLM as one of the leading international central labs for clinical trials.
About Great Point Partners
Great Point Partners, founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with approximately $2.2 billion of equity capital currently under management and 28 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new private equity investments from GPP III, which has $307 million of committed capital. Great Point manages capital in private (GPP I, $156 million and GPP II, $215 million of committed capital, and GPP III) and public equity funds (BMVF, approximately $1.6 billion). Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 growing health care companies. The private equity funds invest across all sectors of the health care industry with particular emphasis on biopharmaceutical services and supplies, pharmaceutical infrastructure, medical device, information technology enabled businesses and alternate site care. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies. Reach Great Point at 203-971-3300 or http://www.gppfunds.com.
About MLM Medical Labs
MLM Medical Labs founded 1993 is a Central Laboratory dedicated exclusively to clinical trials. MLM offers a full range of laboratory services, including specialized biomarker testing, clinical chemistry, standard safety profiles, and analyses of drug compounds, metabolites and molecular diagnostic parameters. Internationally active in over 40 countries, including the U.S. and Eastern Europe, MLM is headquartered in Moenchengladbach, Germany (near Duesseldorf International Airport). MLM works 365 days a year in order to ensure valid, high-quality, results with a quick turnaround time. For more information, please visit https://www.mlm-labs.com/