M&A Deal Summary

SSI Diagnostica Acquires TechLab

On August 22, 2022, SSI Diagnostica acquired medical products company TechLab from Pharos Capital Group

Acquisition Highlights
  • This is SSI Diagnostica’s 2nd transaction in the Medical Products sector.
  • This is SSI Diagnostica’s 2nd transaction in the United States.
  • This is SSI Diagnostica’s 1st transaction in Virginia.

M&A Deal Summary
Date 2022-08-22
Target TechLab
Sector Medical Products
Buyer(s) SSI Diagnostica
Sellers(s) Pharos Capital Group
Deal Type Add-on Acquisition
Advisor(s) Lincoln International (Financial)
Gibson, Dunn & Crutcher (Legal)

Target

TechLab

Blacksburg, Virginia, United States
TechLab is a developer and manufacturer of intestinal diagnostics products for intestinal diseases including C. difficile (C. Diff) bacteria, parasitology, and inflammation. TechLab was established in 1989 and is based in Blacksburg, Virginia.

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Buyer(S) 1

Buyer

SSI Diagnostica

Hillerod, Denmark
Category Company
Founded 2016
Sector Medical Products
Employees110
Revenue 180M DKK (2017)
DESCRIPTION

SSI Diagnostica is a Nordic manufacturer and distributor of in vitro diagnostic products servicing microbiological laboratories and pharma companies globally. Internationally, SSI Diagnostica sells high-quality antisera, rapid tests, and other diagnostic products. SSI Diagnostica was founded in 2016 and is based in Hillerod, Denmark.

DEAL STATS #
Overall 2 of 2
Sector (Medical Products) 2 of 2
Type (Add-on Acquisition) 2 of 2
State (Virginia) 1 of 1
Country (United States) 2 of 2
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-26 CTK Biotech

Poway, California, United States

CTK Biotech, Inc. is an IVD business that manufactures and distributes rapid diagnostic tests with a focus on the Latin American, Asian and African markets. CTK Biotech is based in Poway, California.

Buy -

Seller(S) 1

SELLER

Pharos Capital Group

Dallas, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Pharos Capital Group is a private equity firm that provides later-stage equity funding to companies at or near cash-flow break even. Investment funds are typically used to support growth, acquisitions, management buyouts, or recapitalization. Pharos looks to commit $20 to $50 million per transaction. Target sectors include healthcare, business services, and technology. Pharos prefers US-based opportunities. Pharos Capital Group was formed in 1998 and is based in Dallas, Texas.

DEAL STATS #
Overall 22 of 23
Sector (Medical Products) 2 of 2
Type (Add-on Acquisition) 10 of 11
State (Virginia) 1 of 1
Country (United States) 21 of 22
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-16 Sanderling

Nashville, Tennessee, United States

Sanderling is a full-service provider of dialysis and renal telemedicine services focusing on patients in underserved communities. Sanderling is based in Nashville, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-01 Baroco

Northampton, Massachusetts, United States

Baroco provides day habilitation and support services for individuals with developmental disabilities. Baroco was founded in 1983 and is based in Northampton, Massachusetts.

Buy -
Mergr

Product

Company

Legal