Schryver Medical Sales and Marketing LLC, a portfolio company of Revelstoke Capital Partners, has closed its buy of Professional Clinical Laboratory Inc. Financial terms weren’t announced. Fort Worth, Texas-based Professional Clinical Laboratory provides clinical laboratory services with locations in Texas, Oklahoma, Alabama, and Mississippi. Perkins Coie LLP and Winston & Strawn LLP acted as legal advisors to Schryver.
Schryver Medical, a Portfolio Company of Revelstoke Capital Partners, Completes Acquisitions of Professional Clinical Laboratory, Inc.
Denver, CO (June 30, 2016) – Schryver Medical Sales and Marketing, LLC (“Schryver”), a portfolio company of Revelstoke Capital Partners (“Revelstoke”), a Denver-based private equity firm, has completed the acquisition of Professional Clinical Laboratory, Inc. (“ProLab”). The acquisition bolsters Schryver’s presence in the Texas market, where it began offering services last December following the acquisition of Community Portable X-Ray and MetroStat Clinical Laboratory / MetroStat Diagnostic Services.
Schryver, headquartered in Denver, Colorado, is a JCAHO accredited provider of mobile imaging diagnostics, clinical laboratory services, oxygen therapy and durable medical equipment rental. Schryver serves nearly 4,000 long term post-acute facilities, assisted-living centers, and skilled nursing facilities, as well as numerous homecare patients. Schryver’s significant value proposition and service line diversity have resulted in long term customer relationships and a superior brand reputation. Since Revelstoke’s investment in Schryver, the company has completed seven acquisitions, with ProLab following Schryver’s January 2015 acquisition of Nashville-based Quality Mobile X-Ray, its July 2015 acquisitions of Main Street Clinical Laboratories, On-Site Imaging Services, and B.O.N. Clinical Laboratories, and its December 2015 acquisitions of Community Portable X-Ray and MetroStat Clinical Laboratory / MetroStat Diagnostic Services.
Based in Fort Worth, Texas, ProLab is a provider of clinical laboratory services with locations in Texas, Oklahoma, Alabama, and Mississippi. Founded over 15 years ago, ProLab collects, transports and processes lab samples 24/7 in order to provide nurses and physicians diagnostic information. ProLab provides real-time online access to lab results and its laboratories are COLA-accredited and equipped with state-of-the-art instruments and information systems.
“We are excited to deepen our operations in the Texas and surrounding markets,” said Doug Goetz, CEO of Schryver. “Adding ProLab’s considerable resources allows us to better serve our current and new customers in Texas by improving our response times and ensuring the highest quality diagnostic services to our customers. This transaction serves as an important step in our continued effort to bring Schryver’s superior medical diagnostic services to this rapidly expanding industry across the U.S.”
“The Schryver management team continues to execute on its strategy of becoming a leading national provider through a disciplined buy and build approach,” commented Mark King, CEO, Managing Partner and Co-Founder of Revelstoke. “Schryver has now completed seven acquisitions since our investment expanding the company’s reach into 17 states.”
Perkins Coie LLP and Winston & Strawn LLP acted as legal advisors to Schryver.
Based in Denver, Colorado, and employing over 1,000 professionals, Schryver is a leading provider of mobile imaging, clinical laboratory, and oxygen therapy equipment outsourcing across seventeen U.S. states serving the long term care market, hospitals, assisted-living centers, and homecare patients.
Revelstoke is a private equity firm formed by experienced investors who focus on building industry-leading companies. Revelstoke strives to partner with management teams to execute on a disciplined organic and acquisition strategy to build exceptional companies. Revelstoke’s Managing Partners, Mark King, Dale Meyer and Simon Bachleda, have completed nearly 120 platform and add-on acquisitions, representing over $6 billion of total enterprise value.