NEW YORK – Holding company Diversified Medical Healthcare (DMH) said Thursday that it is acquiring Hurricane, Utah-based laboratory Dynasty Medical Laboratory Services (DMLS) for an undisclosed amount.
With the acquisition, DMLS, which formerly specialized in toxicology testing, is expanding its menu to offer a full range of tests, including pharmacogenomics testing, PCR testing, advanced cardiovascular and diabetes testing, cancer screening, women's wellness panels, allergen-specific IgE blood testing, toxicology, blood chemistry, and molecular diagnostics.
Greenville, South Carolina-based DMH's holdings include the clinical lab businesses Premier Medical Laboratory Services, also located in Greenville, and First Medical Laboratory Services, located in Irving, Texas. The company's other businesses operate in the medical supply and equipment distribution, sterile medical manufacturing, and medical data management software development spaces. The company recently announced that it was investing $51 million to expand its operations.
As part of the acquisition, DMLS founder Adam Law has joined DMH as chief strategy officer where he will oversee the operations of all DMH companies.
"I am more than happy to have [Law] join Diversified Medical Healthcare and work alongside him in expanding Dynasty Medical Laboratory Services," Kevin Murdock, CEO of DMH, said in a statement. "Acquiring this laboratory will help us to seamlessly expand our laboratory services footprint into the western states, which couldn't have been done without the foundation that [Law] built."