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  6. HORIBA Acquires MedTest DX

M&A Deal Summary

HORIBA Acquires MedTest DX

On February 3, 2021, HORIBA acquired healthcare services company MedTest DX from Enhanced Healthcare Partners and TAG Venture Partners

Acquisition Highlights
  • This is HORIBA’s 1st transaction in the Healthcare Services sector.
  • This is HORIBA’s 2nd transaction in the United States.
  • This is HORIBA’s 1st transaction in Michigan.

M&A Deal Summary
Date 2021-02-03
Target MedTest DX
Sector Healthcare Services
Buyer(s) HORIBA
Sellers(s) Enhanced Healthcare Partners
TAG Venture Partners
Deal Type Add-on Acquisition

Target

MedTest DX

Canton, Michigan, United States
MedTest DX, Inc. designs, manufactures, and markets a range of chemistry instruments and provides supporting reagents and instrument service to physician offices, hospitals, reference laboratories, and research facilities. MedTest Dx was founded in 2011 and is based in Canton, Michigan.

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Buyer(S) 1

Buyer

HORIBA

Kyoto, Japan
Category Company
Founded 1945
Sector Technology Hardware
Employees8,955
Revenue 317.4B JPY (2024)
DESCRIPTION

HORIBA provides an extensive array of instruments and systems for applications ranging from automotive R&D, process and environmental monitoring, in-vitro medical diagnostics, semiconductor manufacturing and metrology, to a broad range of scientific R&D and QC measurements. Proven quality and trustworthy performance have established widespread confidence in the HORIBA Brand. HORIBA was founded in 1945 and is based in Kyoto, Japan.

DEAL STATS #
Overall 5 of 5
Sector: Healthcare Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 4 of 4
State: Michigan M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-10 FuelCon AG

Barleben, Germany

FuelCon AG is a manufacturer and supplier of R&D and EOL (end of line) test beds and turnkey solutions for the E-Mobility sector, with expertise in battery and fuel cell applications. FuelCon was founded in 2001 and is based in Barleben, Germany.

Buy -

Seller(S) 2

SELLER

Enhanced Healthcare Partners

Santa Monica, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Enhanced Healthcare Partners is a specialist private equity firm that invests in lower-middle market growth companies in the healthcare sector. The Firm seeks to invest $10 to $50 million per transaction and will consider a variety of transaction types, including buyouts, growth equity, and recapitalizations. Enhanced Healthcare Partners was formed in 2005 and is based in New York City.

DEAL STATS #
Overall 10 of 13
Sector: Healthcare Services M&A 8 of 9
Type: Add-on Acquisition M&A Deals 5 of 6
State: Michigan M&A 1 of 1
Country: United States M&A 10 of 13
Year: 2021 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-21 SCA Pharma

Little Rock, Arkansas, United States

SCA Pharma specializes in preparing sterile pharmaceuticals customized for hospital pharmacies and healthcare facilities nationwide. SCA Pharmaceuticals products and services have consistently proven to significantly increase efficiencies and reduce costs to these organizations. SCA Pharma was founded in 2010 and is based in Little Rock, Arkansas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-28 Syft

Tampa, Florida, United States

Syft's automation tools, extensive data analytics, and inventory management services optimize supply chains dock-to-doc from warehousing and distribution to the point of use. Syft was founded in 1999 and is based in Tampa, Florida.

Sell -
SELLER

TAG Venture Partners

Hingham, Massachusetts, United States
Category Private Equity Firm
Founded 1997
Size Small
Type Sector Agnostic
DESCRIPTION

TAG Venture Partners is a private equity firm that invests in lower middle-market companies throughout North America. TAG generally looks to partner with management teams in pursuing high-quality 'niche' businesses. The Firm seeks controlling interests and targets businesses generating at least $1 million of EBITDA. Areas of interest include healthcare/medical, niche manufacturing, consumer, and business services. TAG Venture Partners was formed in 1997 and is based in Hingham, Massachusetts.

DEAL STATS #
Overall 4 of 4
Sector: Healthcare Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
State: Michigan M&A 1 of 1
Country: United States M&A 4 of 4
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-31 Double E

West Bridgewater, Massachusetts, United States

Double E is a manufacturer of highly-engineered components for web converting applications. The company's product offering includes critical wear components such as chucks, brakes, shafts, slitters, web guides, core cutters, and roll movers. These products secure, straighten, apply tension, cut, and move rolled raw materials through continuous manufacturing processes. Double E was established in 1972 and is headquartered in West Bridgewater, Massachusetts.

Sell -
Mergr

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