M&A Deal Summary

NeoGenomics Acquires Genoptix

On October 23, 2018, NeoGenomics, Inc. acquired healthcare services company Genoptix, Inc. from 1315 Capital and Ampersand Capital Partners for 126M USD

Acquisition Highlights
  • This is NeoGenomics’ 3rd transaction in the Healthcare Services sector.
  • This is NeoGenomics’ 3rd largest (disclosed) transaction.
  • This is NeoGenomics’ 3rd transaction in the United States.
  • This is NeoGenomics’ 3rd transaction in California.

M&A Deal Summary

Date 2018-10-23
Target Genoptix, Inc.
Sector Healthcare Services
Buyer(s) NeoGenomics, Inc.
Sellers(s) 1315 Capital
Ampersand Capital Partners
Deal Type Add-on Acquisition
Deal Value 126M USD
Advisor(s) William Blair & Co. LLC (Financial)
Paul Hastings LLP (Legal)

Target

Genoptix, Inc.

Carlsbad, California, United States
website
Genoptix, Inc. is one of the largest hematopathology testing laboratories in the U.S., providing thousands of oncologists and pathologists across the United States with comprehensive testing solutions in hematology and solid tumor molecular profiling. Genoptix, Inc. was founded in 1999 and is based in Carlsbad, California.

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Buyer(S) 1

Buyer

NeoGenomics, Inc.

Fort Myers, Florida, United States

website


Category Company
Founded 2001
SectorLife Science
Employees1,700
Revenue 444M USD (2020)
DESCRIPTION

NeoGenomics is a clinical laboratory that specializes in cancer genetics diagnostic testing. The company’s testing services include cytogenetics, fluorescence in-situ hybridization (FISH), flow cytometry, immunohistochemistry, anatomic pathology and molecular genetic testing. NeoGenomics was founded in 2001 and is based in Fort Myers, Florida.


DEAL STATS #
Overall 3 of 6
Sector (Healthcare Services) 3 of 3
Type (Add-on Acquisition) 2 of 5
State (California) 3 of 3
Country (United States) 3 of 4
Year (2018) 1 of 1
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-30 Clarient, Inc.

Aliso Viejo, California, United States

Clarient, Inc. is a provider of comprehensive cancer diagnostic testing to hospitals and physicians in the pharmaceutical industry.

Buy $275M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-24 Intervention Insights, Inc.

Grand Rapids, Michigan, United States

Trapelo Health is a health information services company helping community oncologists incorporate molecular oncology into their practice. Trapelo Health was founded in 2009 and is based in Grand Rapids, Michigan.

Buy $65M

Seller(S) 2

SELLER

1315 Capital

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
Founded 2014
SizeSmall
Type Sector Focused
DESCRIPTION

1315 Capital is a private investment firm that provides expansion and growth capital to commercial-stage specialty pharmaceutical, medical technology, and healthcare service companies. The Firm will consider opportunities across the US and generally looks to commit $10 to $30 million per investment. 1315 Capital was formed in 2014 and is based in Philadelphia, Pennsylvania.


DEAL STATS #
Overall 1 of 1
Sector (Healthcare Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-07 Genoptix, Inc.

Carlsbad, California, United States

Genoptix, Inc. is one of the largest hematopathology testing laboratories in the U.S., providing thousands of oncologists and pathologists across the United States with comprehensive testing solutions in hematology and solid tumor molecular profiling. Genoptix, Inc. was founded in 1999 and is based in Carlsbad, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-16 Biocoat, Inc.

Horsham, Pennsylvania, United States

Biocoat, Inc. develops and licenses biomaterial coatings for medical devices that are custom engineered to meet specific clinical parameters. The company specializes in supplying lubricious hydrophilic coatings for medical devices to original equipment manufacturers and contract manufacturers. Biocoat is able to recommend contract coaters or to provide in-house coating services to aspiring medical device companies that need help with manufacturing. The company also sells diagnostic test kits in the reproductive market for use in male factor infertility.

Buy -
SELLER

Ampersand Capital Partners

Wellesley, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
Founded 1988
PE ASSETS 2.0B USD
SizeLarge
Type Sector Focused
DESCRIPTION

Ampersand Capital Partners is a middle-market private equity group that concentrates on growth equity investment opportunities in the healthcare sector. The Firm looks to invest $10 to $100 million in businesses with $10 to $100 million of revenue. Specific areas of interests within healthcare include lab products, specialty diagnostic equipment, pharmaceutical outsourcing, and specialty pharma. Ampersand generally prefers to be the first and sole institutional investor. Ampersand was formed in 1988 and is based in Wellesley, Massachusetts.


DEAL STATS #
Overall 38 of 44
Sector (Healthcare Services) 3 of 3
Type (Add-on Acquisition) 27 of 32
State (California) 7 of 8
Country (United States) 38 of 44
Year (2018) 5 of 6
Size (of disclosed) 8 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-26 GENEWIZ, Inc.

South Plainfield, New Jersey, United States

GENEWIZ, Inc. is a provider of R&D genomics services that enable research scientists within pharmaceutical, biotechnology, agriculture, environmental and clean energy, academic, and government institutions to advance their discoveries. GENEWIZ, Inc. was founded in 1999 and is based in South Plainfield, New Jersey.

Sell $450M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-20 Avista Pharma Solutions

Lafayette, Colorado, United States

Avista Pharma Solutions is a contract development, manufacturing, and testing organization that understands advance products through every stage of development. With over 200,000 square feet of laboratory and manufacturing space in the U.S. and U.K., Avista offers a broad suite of scientifically differentiated services ranging from early-stage discovery, API and Drug Product development and cGMP manufacturing to stand-alone analytical and microbiology testing support.

Sell $252M