PathGroup of Nashville raises $100 million; OncoDiagnostic Laboratory is acquired
For the business of anatomic pathology, the new year got off to a fast start with two different deals announced yesterday. The biggest transaction was major capital infusion at PathGroup, Inc., one of the nation’s regional pathology supergroups. The other transaction was the acquisition of a pathology group practice in Cleveland, Ohio, by Predictive Biosciences, Inc., of Lexington, Massachusetts.
Yesterday, PathGroup, Inc., of Brentwood, Tennessee, announced a leveraged recapitalization which raised more than $100 million for the pathology services company. This transaction signals a shift in the business strategy for one of the nation’s larger pathology laboratory companies and gives it an ample war chest to fund acquisitions, as well as further expansion of its ongoing lines of laboratory testing.