GHO Capital Partners LLP has acquired DNA Diagnostics Center from MTS Health Investors LLC for $110 million.
DNA Diagnostics provides private DNA testing services, including paternity tests, veterinary services, forensic services and cell-line authentication for the pharmaceutical industry.
New York private equity firm MTS invested in DNA Diagnostics in 2008. The firm focuses on health care companies, and is invested in care-management service MyNexus, health care information-management group Trust Healthcare Consulting Services LLC and reproductive technology business Ovagen Fertility.
London-based GHO also focuses just on health care companies – especially those in targeted sub-sectors. GHO was founded in 2014, and DNA Diagnostics is its only current portfolio company.
Robert W. Baird & Co. was DNA Diagnostics' financial adviser and Hogan Lovells provided legal advice.
The deal comes at a busy time in the health care sector, M&A-wise. Part of the sector-wide deal spree is driven by the Affordable Care Act, as health care providers ramp up technology and combined services to save money as they try to improve patient outcomes.