SSI Diagnostica, a developer and manufacturer of diagnostics products and portfolio company of Adelis Equity, has bought TechLab Inc. from Pharos Capital Group LLC.
Tech Lab is a developer and manufacturer of rapid, non-invasive diagnostic tests for infectious disease, intestinal inflammation, and parasitology. SSI’s global distribution network and production capability will be able to complement Tech Lab’s U.S. and global operations to scale the combined firm’s diagnostics offering.
“Our partnership with Pharos has been extremely rewarding, and we are delighted with the growth of our suite of diagnostic tools and our operational capabilities,” said Daniel Delaney, TechLab CEO. “We look forward to working with our new partners, SSI Diagnostica and Adelis Equity, to continue to expand the global scope of our products and develop new life sciences technologies.”
Lincoln International served as the exclusive financial advisor and Gibson Dunn served as legal counsel to TechLab and Pharos on the transaction.