The companies will become one to meet an increasing demand for histopathology services in the research and preclinical therapeutics markets.
“The owners of the two companies saw an opportunity to expand value to clients, especially for histology and pathology services, as a single combined entity,” HSRL CEO Tom Galati told us.
Histo-Scientific Research Laboratories (HSRL) service offering includes tissue analyses, efficacy determination for new compounds and devices, toxicologic evaluation, and pathology reporting for good laboratory practices (GLP) studies.
Vet Path Services’ (VPS) GLP-compliant archival offering includes cold (5°C and -20°C) and ultra-low-temperature (-80°C) material storage, among other histology and pathology services.
The combined company has offices in Mt. Jackson, VA, Mason, OH, and Worcester, MA – and has plans to “significantly” expand its Worcester site.
Following the merger, the middle market private equity (PE) firm Ampersand Capital Partners also has invested in the company.
“Ampersand seeks out, and invests in the top players in their respective industry segments. We target companies that have a differentiated approach and operate in high growth markets,” said David Anderson, PhD, partner, Ampersand Capital Partners.
Anderson told us, “Both HSRL and VPS meet these criteria and together create a formidable company to service the pre-clinical histopathology market.”
Amersand’s investment follows several in the industry. Most recently, the PE firm in November acquired Pacific Biomarkers with plans to merge the CRO with Neomed-Labs, which it bought in September.