MTS Health Cuts Ties with DDC
- Oct 14, 2015
New York-based MTS Health Investors recently sold one of its most coveted assets. The healthcare private equity firm received $110 million from GHO Capital for the DNA Diagnostics Center in Ridgewood, New Jersey. During the sale process both entities were advised by Robert W. Baird & Co., while legal counsel was provided by Hogan Lovells.
Offering comprehensive DNA testing services for two decades, the DDC is one of the largest entities of its kind. The company is set to carry out about 750,000 DNA tests in 2015 alone. With over 2,500 locations across the U.S., DDC offers a range of products that includes relationship testing, veterinary services, forensic services, and medical applications for the pharmaceutical industry. Its state-of-the-art facility is considered one of the top locations for lab works requiring this kind of expertise.
In a press statement released announcing the transaction, DDC President and CEO Peter Vituli expressed the Diagnostics Center’s appreciation of MTS’s tenure as partner of the business. GHO Capital Executive Partner and Founder Mike Mortimer points out that the acquisition made sense due to fact that “the field of genetic diagnostics is an attractive, high growth segment within healthcare.”