Sonic Healthcare (ASX: SHL) has acquired 100% of ProPath, a Texas based anatomical pathology (AP) company. ProPath’s annual revenue is ~US$110 million, and with its ~50 pathologists, serves over 1,000 physicians and more than 20 hospital groups across 45 States. ProPath was established as an AP practice in 1966. Growth has largely been organic, including the addition of clinical laboratory services from 2017. In early 2020 ProPath acquired New England Tissue Issue, an AP company located in Massachusetts. The acquisition of ProPath is a very significant additional step in the ongoing development of Sonic’s AP and clinical laboratory operations in the US.
Versant Diagnostics, a physician services company focused on anatomic pathology, has announced its formation as part of a partnership between Alliance Pathology Consultants, healthcare entrepreneurs Jim Billington and Brian Carr, and healthcare private equity firm Iron Path Capital. The partnership also announced its addition of Addison Central Pathology, a leading anatomic pathology provider serving the hospital and physician’s office markets in the Chicago metro area. The combined entity, Versant Diagnostics, is now one of the largest independent physician-led pathology groups in the Midwest.
PathGroup, one of the largest providers of anatomic pathology, digital pathology, clinical and molecular laboratory services in the United States, announced the acquisition of DermLab, an independent dermatopathology laboratory based in Birmingham, AL. The addition of DermLab is PathGroup’s second dermatology acquisition in 2021 and enhances the company’s dermatopathology capabilities, a key strategic initiative.
PathAI, a global provider of artificial intelligence-powered technology for pathology, announced their acquisition of Poplar, the management service organization for Poplar Healthcare PLLC, an industry-leading independent anatomic pathology laboratory services provider. Memphis-based Poplar Healthcare supports physicians across the country with its GI Pathology, D-PATH Dermatology, OncoMetrix, Bostwick Laboratories and Women’s Health Laboratories specialized testing services. Poplar’s facilities, management team and 350 employees now comprise PathAI’s diagnostics division, which will remain based in Memphis.
Cancer Diagnostics, Inc. (CDI), a Durham, North Carolina-based industry-leading provider of anatomic pathology products, has acquired Anatech Ltd., (Anatech) Battle Creek, Michigan. Anatech has been supplying distinctive products for anatomical pathology since the company was founded in 1984 and will continue to operate out of its existing manufacturing facility in Battle Creek.
PathGroup, one of the largest providers of anatomic pathology, digital pathology, clinical and molecular laboratory services in the United States, announced the acquisition of SkinDx, a leading dermatopathology laboratory in the Southeastern U.S., based in Birmingham, Alabama. This acquisition expands PathGroup’s presence in the dermatopathology space, while also providing state-of-the-art molecular pathology and clinical pathology services for current SkinDx clients. PathGroup is owned by Pritzker Private Capital along with management.
Discovery Life Sciences™ (Discovery), the biospecimen and biomarker specialists™, announced today that it has acquired Targos Molecular Pathology GmbH, Germany (Targos), one of the largest molecular pathology laboratories in Europe, to significantly expand its global tissue biomarker services. Targos represents another milestone in Discovery’s global expansion and complements its prior acquisition of Santa Barbara, Calif.-based QualTek Molecular Laboratories (QualTek), a leading North American immunohistochemistry (IHC) and biomarker development provider.
CellCarta, a global provider of precision medicine services, announced today the acquisition of Reveal Biosciences (“Reveal”), a San Diego California based computational pathology company offering cutting-edge artificial intelligence (AI)-based quantitative pathology and immunohistochemistry services to the biopharmaceutical industry. This acquisition further strengthens CellCarta’s position as a leading provider of histopathology biomarker services and will enable the company to broaden its offering in AI-enabled multi-omic data analysis services and applications.
StageBio, a leading provider of GLP-compliant necropsy, histology, pathology and specimen archiving services for both preclinical and clinical research, announced today its acquisition of TPL Path Labs of Freiburg, Germany. The combined organization offers an expanded array of histopathology, molecular pathology, toxicology, digital image analysis and related solutions to biopharma, medical device and academic researchers across the U.S., Europe and beyond. StageBio is a portfolio company of Ampersand Capital Partners.
UnitedHealthcare has issued new fee schedules to a number of Texas pathology groups in recent months, raising concerns that a broader effort to lower payment rates could be coming. The UHC action follows moves over the past year and a half by insurer Anthem to significantly cut payment rates for many pathology practices across the country and fits within a broader and long-term trend of public and private payors putting downward pressure on lab reimbursement. Joe Saad, chairman of pathology at Dallas-based Methodist Health System said that his practice received a letter this week from UHC laying out its new rates. He did not provide the new pricing but said that the insurer was “proposing a fee schedule that is very significantly different from the one that we had, and obviously much lower.”
What We Do
Who We Are
How We Work
Who We Help
Get In Touch
Connect With Us
Subscribe to Our Daily Note
We publish a Daily Note that aggregates M&A activity, notable developments, regulatory changes, and conferences we deem to be of interest to our partners. It is a quick afternoon read and an easy way to keep your finger on the pulse of the healthcare space. Please fill in your name and email address below if you wish to subscribe.