Gamma-Dynacare Medical Laboratories Inc has bought Lab BioMédic, a laboratory services provider to medical clinics, industries, insurance companies and clinical research organizations, and a portfolio company of Canadian private equity firm Persistence Capital Partners (PCP). The acquisition price was not disclosed. According to the Brampton, Ontario-based Gamma-Dynacare, the acquisition solidifies its position as a laboratory services specialist in Québec. The Lab BioMédic deal comes close on the heels of this week’s sale by PCP of the Québec radiology operations of Medvue Medical Imaging to Envision Diagnostics Inc. In Apr. 2013, PCP raised over $90 million in the first close of its $225 million healthcare-focused fund, Persistence Capital Partners II LP.
Gamma-Dynacare strengthens leadership position in Quebec with acquisition of Lab Bio-Medic
BRAMPTON, ON, Jan. 16, 2014 /CNW/ – Gamma-Dynacare Medical Laboratories announced today that it has acquired Lab Bio-Medic, a privately owned laboratory in Quebec that provides services to medical clinics, industries, insurance companies and clinical research organizations.
“This investment is an important step forward in our long-term strategy and commitment to grow in Quebec through excellent clinical quality, service and patient care,” said Ms. Naseem Somani, President and Chief Executive Officer, Gamma-Dynacare Medical Laboratories. “Lab Bio-Medic brings to Gamma-Dynacare a growing business with strong client relationships, talented people and a shared commitment to quality, accessibility and quick service. The addition of Lab Bio-Medic solidifies Gamma-Dynacare’s position as the leading private sector laboratory services provider in Quebec.”
Gamma-Dynacare’s Quebec operations include a newly renovated and re-engineered medical diagnostics laboratory in Saint-Laurent that was opened in October 2012, the Laval-based operations of Gamma-Dynacare’s GD Specialized Diagnostics division, which provides specialty laboratory testing to clients across Canada, and a network of 27 Patient Services Centres in the Montreal, Quebec City and Gatineau areas. Gamma-Dynacare also provides medical information collection services for the insurance industry under the name MedAxio, and medical courier and logistics services under the name Accuro Health Services. This acquisition will enhance Gamma-Dynacare’s presence with the addition of Lab Bio-Medic’s two laboratories and four Patient Services Centres, located in Montreal and Quebec City.
Gamma-Dynacare will offer employment to all Lab Bio-Medic employees. In addition, Marc Hamilton, President of Lab Bio-Medic, will remain with Gamma-Dynacare in his current role.
“I am excited by the opportunity for our company to join Gamma-Dynacare, which is the largest private laboratory in Quebec and provides health care services nationally across Canada,” said Mr. Hamilton. “This agreement represents an excellent opportunity to benefit from Gamma-Dynacare’s scope and expertise to expand the range of services offered to our clients.”
“We look forward to combining our strengths to enhance clients’ practices and patient care while making a valued contribution to Quebec’s health care system,” concluded Ms. Somani.
About Gamma-Dynacare Medical Laboratories
Providing Information. Impacting Lives. Caring for People. By living this mission, Gamma-Dynacare Medical Laboratories will achieve its vision of becoming the trusted leader in transforming laboratory information and services into solutions that improve health, wellness and the Canadian health care system.
Gamma-Dynacare is one of Canada’s largest and most respected providers of laboratory services and health care solutions, with more than 50 years of experience serving Canadians. Headquartered in Brampton, Ontario, Gamma-Dynacare operates laboratories in Ontario (Brampton, Bowmanville, London, Ottawa and Thunder Bay), Quebec (Saint-Laurent and Laval), Manitoba (Winnipeg) and Alberta (Edmonton). Its operations also include more than 200 Patient Services Centres in Ontario, Manitoba and Saskatchewan.
Gamma-Dynacare also provides medical information collection services for the insurance industry under the name MedAxio, and medical courier and logistics services under the name Accuro Health Services.
Gamma-Dynacare’s 2,400 skilled and dedicated employees perform 50 million tests each year, supporting patients, healthcare professionals and public and private sector clients with the laboratory services and critical information necessary for good health care and health-related decisions.
About Lab Bio-Medic
Part of the portfolio of Persistence Capital Partners (PCP), a private equity fund specializing in health services, Lab Bio-Medic operates two laboratories equipped with state-of-the-art equipment located in Quebec and Montreal. Established in 1998, Lab Bio-Medic provides routine biomedical analysis and specialized tests such as cytopathology (immunohistofluorescence test) and the detection of allergies. Its client base includes private clinics, industrial medicine clinics, insurance companies and clinical research services. Its operations meet the requirements of ISO-15189 certification and its technology platform is in compliance with the FDA 21 CFR part 11 of the pharmaceutical industry.
SOURCE Gamma-Dynacare Medical Laboratories
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