Synergy takes equity stake in CSI

Synergy Capital Investments has acquired an equity stake in CSI Laboratories, a specialized cancer diagnostic center. No financial terms were disclosed.

PRESS RELEASE

ALPHARETTA, Ga.–(BUSINESS WIRE)–CSI Laboratories (CSI) and Synergy Capital Investments (Synergy) today announced the transition of a convertible note to equity stake in CSI, a state of the art, specialized cancer diagnostic center.

“The security purchase agreement, originally issued in 2017, supported a significant transformation around revenue cycle, sales and operational management that improved our profitability,” said Chief Executive Officer and Chief Financial Officer, Chris Wicker. “The note positioned CSI to expand capabilities through the implementation of cutting-edge informatics and the addition of the second testing facility in Jupiter, FL that opened earlier in 2019. We are very pleased to continue our partnership with Synergy as a shareholder and build on CSI’s robust performance.”

CSI executed a considerable financial turnaround in the past two years, and the financial outlook is positive for sustained planned growth.

Munir Karimi, Chief Executive Officer of Synergy, assumes a seat on the Board of Directors of CSI. Said Karimi, “We have been working closely with the CSI team for the past couple of years. This is an excellent time to participate on the equity side given their strong financial performance, outstanding executive guidance, and medical thought leadership. The investment reflects our excitement and optimism for CSI’s continued momentum and reinforces our support of CSI Laboratories.”

ABOUT CSI LABORATORIES
CSI Laboratories was founded in 1997 to provide a more client- and patient-focused model of cancer diagnostic testing for pathologists, community hospitals and their patients. CSI Laboratories offers flow cytometry, cytogenetic analysis, fluorescence in-situ hybridization (FISH), immunohistochemistry, molecular genetics, next generation sequencing, and consultations to hematopathology and surgical pathology clients. It is independently owned and operated by medical professionals, providing expert diagnostic testing and rapid turnaround times for clients across the United States. CSI is a CLIA-certified and CAP-accredited cancer reference laboratory located in Alpharetta, GA. For more information, please visit www.csilaboratories.com.

ABOUT SYNERGY CAPITAL INVESTMENTS
Synergy Capital Investments is an Atlanta, Georgia-based diversified private equity firm that specializes in the acquisition, joint venture, and management of small to mid-market operating businesses. Using capital investment and the strength of its network of advisors, investors, and partners, Synergy offers a specialized approach that drives the next level of strategic growth. Its investment portfolio includes real estate, healthcare, and retail operations. For more information, visit www.synergycapitalinv.com.