M&A Deal Summary

NeoGenomics Acquires Path Logic

On July 8, 2014, NeoGenomics acquired healthcare services company Path Logic from Mainsail Partners for 6M USD

Acquisition Highlights
  • This is NeoGenomics’ 1st transaction in the Healthcare Services sector.
  • This is NeoGenomics’ 5th largest (disclosed) transaction.
  • This is NeoGenomics’ 1st transaction in the United States.
  • This is NeoGenomics’ 1st transaction in California.

M&A Deal Summary
Date 2014-07-08
Target Path Logic
Sector Healthcare Services
Buyer(s) NeoGenomics
Sellers(s) Mainsail Partners
Deal Type Add-on Acquisition
Deal Value 6M USD

Target

Path Logic

Carmichael, California, United States
Path Logic is a provider of specialized anatomic pathology services to Hospitals and physicians in Northern California.

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Buyer(S) 1

Buyer

NeoGenomics

Fort Myers, Florida, United States
Category Company
Founded 2001
Sector Life Science
Employees2,100
Revenue 592M USD (2023)
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 1 of 6
Sector (Healthcare Services) 1 of 3
Type (Add-on Acquisition) 1 of 5
State (California) 1 of 3
Country (United States) 1 of 4
Year (2014) 1 of 1
Size (of disclosed) 5 of 5
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-30 Clarient

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

Seller(S) 1

SELLER

Mainsail Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2003
PE ASSETS 750M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Mainsail Partners is a private equity firm that principally targets investments in North American bootstrapped software companies with proven business models and long-term growth potential. Mainsail looks commit $10 to $75 million of equity capital per transaction in businesses generating annual revenues of $4 to $25 million. Mainsail Partners was formed in 2003 and is based in San Francisco.

DEAL STATS #
Overall 7 of 26
Sector (Healthcare Services) 2 of 2
Type (Add-on Acquisition) 5 of 18
State (California) 2 of 7
Country (United States) 7 of 26
Year (2014) 2 of 2
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-02 Novus Biologicals

Littleton, Colorado, United States

Novus Biologicals LLC, is an e-commerce and life sciences company that develops, licenses and markets research materials to scientists in academic, corporate and government laboratories. Since 1996, Novus Biologicals has partnered with scientific researchers and third-party providers to develop a portfolio of more than 100,000 products. These research tools provide investigators with high-quality antibodies, proteins, kits and RNAi for the study of protein functions in disease in the key fields of cancer, neuroscience, and metabolic disorders.

Sell $60M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-16 PlayMaker Health

Brentwood, Tennessee, United States

PlayMaker Health is a cloud-based customer relationship management solution designed specifically for post-acute care companies to assist with increasing sales efficiency, growing market share, and increasing profitability. PlayMaker Health was founded in 2008 and is based in Brentwood, Tennessee.

Buy -
Mergr

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