Formation of company to meet growing demand for high-quality histopathology services in the research and pre-clinical therapeutics markets includes growth equity investment from Ampersand Capital Partners
Histo-Scientific Research Laboratories, Inc., has completed its merger with Vet Path Services to create the leading provider of research and pre-clinical histology, pathology and archiving services for the biopharmaceutical, medical device and contract research industries. In conjunction with the merger, the new entity also received an investment from Ampersand Capital Partners to continue expanding the company in the rapidly evolving pre-clinical histopathology market.
Mt. Jackson-based HSRL is well-established as a trusted provider of critical services in the pre-clinical research and development market, specifically histology and pathology services for routine tissue analyses, efficacy determination for new compounds and devices, toxicologic evaluation of products subject to FDA approval and detailed pathology reporting for Good Laboratory Practices studies. Equally reputable, VPS offers substantially corresponding histology and pathology expertise that will play a valuable role in growing the combined company’s service capabilities. With the merger, the organization now has footprints in Mt. Jackson, VA, Mason, OH and Worcester, MA. The company plans to significantly expand its Worcester site, where complex immunohistochemical techniques and image analysis is performed, in order to best serve the significant demand for these services in the market.
“We are very excited to partner with VPS to expand HSRL’s service offerings, and to rapidly scale the combined company to meet the growing demand for high-quality histopathology services in the research and pre-clinical therapeutics markets,” stated Mr. Thomas Galati, founder and CEO of HSRL, who will serve as CEO of the combined entity. “The addition of VPS brings not only valuable technical and operational expertise, but also increased service capabilities and a specialized comprehension of complex histopathology with regard to medical devices.”
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Founder and Vice President of VPS, Mr. Chris Johnson, commented, “Our partnership with HSRL represents a highly complementary union of histology and pathology expertise that is unrivaled in the industry. The combination creates an organization that has access to over 25 board-certified veterinary pathologists, who together offer a diverse experience base and the scientific ability to accomplish any project.”
In conjunction with the merger, the company has received an investment from Ampersand Capital Partners, a leading private equity fund focused on the healthcare sector. Ampersand Partner David Anderson added, “HSRL and VPS represent an excellent fit with Ampersand’s strategy of investing in growth-oriented businesses in exciting markets that we know well. Each company has established leadership positions in specialty segments of the research and pre-clinical histopathology markets, and we are thrilled to have the opportunity to partner with an impressive management team focused on driving future growth and success.”
Date: December 17, 2018
Source: Cision