London, UK – GHO Capital, the European specialist healthcare investor, today announces the acquisition of DNA Diagnostics Center (DDC or the Company), a world leader in the provision of specialist DNA-based diagnostic services, for a total transaction value of €104 million. Further details of the transaction were not disclosed.
DDC is a market leading diagnostics business and is one of the world’s largest providers of private DNA testing services. The Company’s platform technology offers a wide range of products in the fields of biological family relationship testing, veterinary services, forensic services and medical applications for the pharmaceutical industry including cell-line authentication. DDC currently processes over 750,000 tests per annum in its state-of-the-art facility and is consistently recognised as the laboratory of choice for high quality results and excellence in customer service.
The Company has a transatlantic footprint, with European operations in London, UK and US operations based in Fairfield, Ohio, and currently has 245 employees globally. With strong growth rates forecasted for the genetic testing markets worldwide, DDC is well-positioned to replicate its scalable, asset-light business internationally, particularly in the nascent and fragmented European market.
Mike Mortimer, Executive Partner and Founder at GHO Capital, said: “The field of genetic diagnostics is an attractive, high growth segment within healthcare and, as a well-established business with significant global potential, DDC is an excellent fit for GHO Capital’s investment strategy. GHO Capital has a deep understanding of diagnostics and clinical laboratories which, combined with our European presence and international networks, provides strong foundations for our alliance with the DDC team.”