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LabCorp Acquires ClearPath Diagnostics

NEW YORK (GenomeWeb) – Healthcare private equity firm Shore Capital Partners announced on Tuesday that it has sold laboratory diagnostics service provider ClearPath Diagnostics to Laboratory Corporation of America.

The deal closed on Monday. Further details of the acquisition were not disclosed.

ClearPath provides various tests and services, including the Hologic Aptima HPV assay, Combo 2 assay, and Trichomonas vaginalis assay, as well as Becton Dickinson's Affirm VPIII to differentiate and identify vaginitis pathogens, Meridian Bioscience's Illumigene tests for Group B Streptococcus and HSV 1&2, and molecular diagnostic PCR testing.

"Shore Capital was the perfect partner to guide ClearPath through a period of transformational growth. Their commitment to clinical quality combined with deep business development expertise allowed ClearPath to thrive during a difficult period in the diagnostic lab industry," said ClearPath Cofounder and President Michael Jozefczyk in a statement. "With Shore Capital's assistance, we successfully expanded into three new states across the northeast and our revenue growth outpaced industry averages by more than 10 times."

William Haas, LabCorp senior vice president and co-leader of LabCorp diagnostics, added that the acquisition of ClearPath will combine "LabCorp's comprehensive women's health service offering" with ClearPath's local expertise to create "an unmatched blend of value and quality to our obstetric and gynecologic customers and patients."