Avista Capital Partners (“Avista”), a leading private equity firm, today announced the completion of its acquisition of Miraca Life Sciences (“MLS” or the “Company”) from Miraca Holdings Inc.
MLS is one of the largest independent anatomic pathology labs in the United States. The Company provides subspecialty anatomic pathology services in the fields of gastroenterology, dermatology, hematology, breast health, and urology. MLS has established a leading reputation among clinicians by creating an innovative, best-in-class practice that results in improved patient care. MLS’s skilled pathologists currently serve over 3,000 physicians and 5,500 patients each day, leveraging the Company’s state-of-the-art laboratory infrastructure and rigorous quality assurance practices.
In connection with the closing of the acquisition, Scott Walton has been appointed CEO of MLS. Mr. Walton most recently served as President & CEO of Ameritox, a leader in pain medication monitoring. Mr. Walton has more than two decades of experience as a founder and executive of health care businesses, and more than thirteen years of experience in the lab services industry.
David Burgstahler, President and Co-Managing Partner of Avista Capital Partners, said, “We are excited to welcome MLS to our healthcare portfolio. We look forward to collaborating with Scott Walton, a seasoned industry executive in the lab services industry, to drive the Company’s next phase of growth.”
“I am honored to lead such an outstanding organization, and excited to start working with my new colleagues at MLS,” said Mr. Walton. “In partnership with Avista, I look forward to building on MLS’s extraordinary commitment to excellence, and positioning the Company for continued growth and expansion of our market leading services.”
Kirkland & Ellis LLP acted as legal counsel to Avista. Goldman, Sachs & Co. LLC acted as financial advisor and Skadden, Arps, Meagher & Flom LLP acted as legal counsel to Miraca Holdings Inc.
Presented by Miraca Life Sciences, November 20, 2017