Add-on Acquisition • Healthcare Services

Clinical Reference Laboratory Acquires Confirm BioSciences

On December 9, 2020, Clinical Reference Laboratory acquired healthcare services company Confirm BioSciences from HCAP Partners

Acquisition Context
  • This is Clinical Reference Laboratory’s 1st transaction in the Healthcare Services sector.
  • This is Clinical Reference Laboratory’s 2nd transaction in the United States.
  • This is Clinical Reference Laboratory’s 1st transaction in California.

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M&A Deal Summary

Date December 9, 2020
Target Confirm BioSciences
Sector Healthcare Services
Buyer(s) Clinical Reference Laboratory
Sellers(s) HCAP Partners
Deal Type Add-on Acquisition

Target Company

Confirm BioSciences

San Diego, California, United States
Confirm BioSciences is a provider of diagnostic testing and health & wellness solutions for both the corporate community and individual consumers. Confirm BioSciences was founded in 2008 and is headquartered in San Diego, California.
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Buyer Overview 1

Buyer

Clinical Reference Laboratory

Lenexa, Kansas, United States

Category Company
Founded 1979
Sector Healthcare Services
DESCRIPTION

Clinical Reference Laboratory, Inc. is a provider of testing services for clinical trials, corporate wellness programs, genomics, insurance, toxicology, molecular diagnostics, and bioanalytics.


Deal Context for Buyer #
Overall 2 of 2
Sector: Healthcare Services 1 of 1
Type: Add-on Acquisition 2 of 2
State: California 1 of 1
Country: United States 2 of 2
Year: 2020 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-31 Heritage Labs

Olathe, Kansas, United States

Heritage Labs, Inc. is a privately held company owns and operates a testing laboratory and service facility for the insurance industry.

Buy -

Seller Profile 1

SELLER

HCAP Partners

La Jolla, California, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2000
PE ASSETS 670M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Huntington Capital is a mezzanine finance firm that provides both debt and equity financing to established, lower middle-market companies throughout California and the Southwest US. The Firm targets growth companies with positive cash flow, diversified customers, defensible market positions, and experienced management. The Firm looks to invest $5 to $35 million in companies generating revenues of $10 to $100 million. Areas of interest include manufacturing, services, healthcare, software, homeland security, retail, and information technology. Prospective transaction situations include buyouts, acquisitions, recapitalizations, and growth capital financings. Huntington Capital was formed in 2000 and is based in San Diego, California.


Deal Context for Seller #
Overall 28 of 36
Sector: Healthcare Services 4 of 6
Type: Add-on Acquisition 15 of 19
State: California 19 of 23
Country: United States 28 of 36
Year: 2020 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-01 CognitiveTPG

Chicago, Illinois, United States

CognitiveTPG is a provider of high-performance point-of-sale transaction and barcode printers to the retail, banking, self-service kiosk, healthcare, hospitality, automotive service, and manufacturing/ logistics sectors. CognitiveTPG is based in Chicago, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-16 Mission Healthcare

San Diego, California, United States

Mission Healthcare is a clinically owned and operated organization whose services include mission home health, mission hospice, and mission home care. Mission Healthcare was founded in 2009 and is based in San Diego, California.

Sell -