PWNHealth LLC, which is backed by EDG Partners, has acquired the assets of Bind Health, a developer of a genetic counseling network. No financial terms were disclosed.
NEW YORK–(BUSINESS WIRE)–PWNHealth, LLC, a leader in enabling diagnostic testing, announced today that it has acquired the assets of Bind Health to expand its offerings in the genetic testing space. PWNHealth was formed in 2015 in partnership with private equity firm, EDG Partners to acquire the lab authorization services division from Medivo, Inc.
“Genetic testing is the fastest growing segment in diagnostics,” says PWNHealth CEO Sanjay Pingle. “The addition of Bind Health allows PWNHealth to expand our offering in genetic testing and launch improved genetic counseling services to meet the surging demand in this area.”
Bind Health has been developing a technology enabled genetic counseling network and is led by CEO Alexandre Thome, who will join PWNHealth as the VP of Genomics. Thome is an entrepreneur and software developer with extensive experience in the diagnostic lab business.
“I am truly excited to join PWNHealth,” says Thome. “I started Bind to facilitate access to genetic counseling. PWNHealth’s broad client relationships and industry expertise will help accelerate this process.”
Over the past decade, the complexity and sheer number of available tests has rapidly expanded, placing a large burden on a small pool of genetic counselors and presenting a major challenge to payers, patients, and clinicians. New tools and approaches are necessary to ensure that appropriate counseling services are provided for areas such as cancer, pre-natal, and personalized medicine. The combination of PWNHealth and Bind provides an innovative solution to ensure that all stakeholders have access to informed decision making throughout the testing process.
About Genetic Counseling
According to the National Society of Genetic Counselors, Genetic counseling helps people understand and adapt to the medical, psychological and familial implications of genetic contributions to disease. Genetic counselors are health professionals with specialized graduate degrees and experience in medical genetics.
PWNHealth is a leading provider of lab connectivity, compliance, and patient outreach solutions. Our platform enables testing solutions for health and wellness, telemedicine, diagnostic labs, and payer markets, who use our services to facilitate quick and seamless consumer access to diagnostic testing and also to maintain compliance with state and federal regulations. Our 50-state physician network and strong technology platform enable us to process over five million diagnostic screens annually.
About EDG Partners
EDG Partners is a private equity firm that provides capital, expertise, and relationships to enable small and middle market healthcare companies to achieve their potential. With considerable investment and operating experience, EDG partners with management teams to navigate the critical inflection points that accompany growth. EDG Partners delivers exceptional value by helping to build exceptional companies. For more information, please visit www.edgpartners.com.