Excellere Partners has made an investment in Biocare Medical, a provider of immunohistochemistry instrumentation and reagents that are used in the testing of biological tissue samples in order to detect cancer cells and infectious diseases. The investment in Biocare is the first platform investment for Excellere Capital Fund III LP.
Biocare’s customers include clinical and hospital laboratories, pharmaceutical companies, and biotechnology companies as well as academic, government, military, and other non-profit laboratories. The company, led by CEO Roy Paxton Yih, is headquartered near San Francisco in Pacheco, CA (www.biocare.net).
Excellere intends to build value in the company through investments in infrastructure, organic growth initiatives in existing and new markets, and add-on acquisitions of other reagent and diagnostic businesses.
“We’re thrilled to have the opportunity to partner with Roy and the entire Biocare team and are excited to support their vison for building a best-in-class industry leader focused on immunohistochemistry and molecular diagnostic products,” said Ryan Glaws, a Partner at Excellere. “We identified the reagents and diagnostics products sector several years ago as an attractive area in which to execute Excellere’s value creation strategy. We have dedicated significant resources to pursuing a reagent platform that has a differentiated product offering, global customer base, commitment to R&D, and a passionate leadership team. In Biocare, we have found both an exceptional business as well as a proven management team.”
“We have an outstanding opportunity to partner with Excellere, which has a proven track record of supporting founder-led businesses in achieving transformative growth,” said Mr. Yih. “While we had many options, we chose Excellere as our partner based on their track record and passion for supporting emerging growth companies.”
Excellere invests in middle-market companies with revenues ranging from $20 million to $150 million. Sectors of interest include healthcare services and products; energy, power and infrastructure services and products; industrial technology, specialty chemicals; and business services. The firm has $1.4 billion of capital under management and is based in Denver (www.excellerepartners.com).
© 2017 Private Equity Professional | August 28, 2017