Calloway Laboratories, a national clinical toxicology lab, has announced that Ampersand Capital Partners has signed an agreement to acquire Calloway. The transaction is expected to close during the fourth quarter of 2012.
Calloway is a provider of clinical toxicology services to support pain management as well as addiction recovery programs. Calloway has served over four hundred thousand patients in forty three states over the past five years. The company is based in Woburn, MA (www.callowaylabs.com).
As part of this transaction Gail Marcus will join Calloway as President and Chief Executive Officer. Ms. Marcus, who has experience building successful healthcare service organizations, was recently CEO of Caris Diagnostics, a national diagnostic pathology laboratory.
“I have been working with the Ampersand team to identify the right opportunity in the toxicology lab market. Calloway provides a strong platform in this market to deliver excellence in toxicology diagnostic services and I am very pleased to be joining the Calloway management team,” said Ms. Marcus.
Ampersand Capital Partners makes middle market growth equity investments in the healthcare sector. The firm is based in Boston (www.ampersandcapital.com).
“Calloway fits squarely into Ampersand’s lower middle market growth profile. The company has created and delivered a highly valued set of service offerings for its clients with rapid turnaround, accurate results, and exceptional client support. With the infusion of additional capital and management resources, Calloway is well positioned to capitalize on future acquisition and organic growth opportunities in the multi-billion dollar toxicology lab industry,” said Jared Bartok, General Partner at Ampersand.
© 2012 PEPD • Private Equity’s Leading News Magazine • 9-27-12