Persistence Capital Partners Announces Sale of Lab-Biomedic
Persistence Capital Partners (“PCP”), a private equity fund exclusively focused on high-growth opportunities in healthcare, is pleased to announce the sale of its portfolio company, Lab-Biomedic (“LBM”), a leading clinical laboratory in Quebec, to Gamma-Dynacare, a Canadian subsidiary of LabCorp (NYSE: LH).
Acquired by PCP in 2010, LBM provides clinical laboratory services to medical clinics, corporate clients, insurance companies and clinical research organizations. It serves a broad range of eastern Canadian clients through its laboratories in Montreal and Quebec City.
Commenting on the transaction, Lloyd M. Segal, Managing Partner at PCP, said, "LBM represents a benchmark for service and excellence in the clinical laboratory, insurance, and contract research sectors in Canada. It has been a privilege collaborating with Marc Hamilton and his team, as they have set a new standard for innovation and delivered outstanding returns to PCP. We wish them continued success as they become part of Gamma-Dynacare."