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MPL Buys Genatom

Manhattan Physicians Laboratories, a new clinical lab group formed by former Quest Diagnostics executives, has acquired Genatom Inc., a provider of routine lab services for clients in the New York-New Jersey metropolitan area. No financial terms were disclosed. MPL has raised more than $20 million from backers like Trevi Health Ventures.

 

PRESS RELEASE

 

Manhattan Physicians Laboratories, a newly formed independent clinical laboratory led by former executives of Quest Diagnostics, announced today that it has completed the acquisition of Genatom Inc.

Genatom provides predominantly routine laboratory services for clients in the New York-New Jersey metropolitan area from its main laboratory based in Roseland, New Jersey. In addition, Genatom reaches into parts of Pennsylvania and Delaware.

Manhattan Labs was founded with the goal of creating the premier service oriented, high quality independent clinical laboratory in the New York metropolitan area, with a focus on Manhattan. It is backed by a $20+ million capital commitment from venture capital investors led by New York healthcare venture capital firm, Trevi Health Ventures.

Manhattan Labs' President, Thomas Golubic said: “The acquisition of Genatom represents an important first step in Manhattan Labs' strategy. This acquisition will provide us with the initial critical mass and reach to start us on our way to becoming the leading lab in the leading market