Miraca Life Sciences Inc. has acquired anatomic pathology company, Plus Diagnostics Inc., from Water Street Healthcare Partners for an undisclosed price.
Water Street acquired Plus in 2006 when it was a regional laboratory and expanded the Union, N.J.-based company with new laboratories, implementing a variety of different tests and hiring more pathologists. Under Water Street’s ownership, Plus established a presence in the dermatopathology, hematopathology, and gastrointestinal markets.
The deal is expected to make Irving, Texas-based Miraca the largest independent anatomic pathology laboratory company in the U.S.
Water Street, based in Chicago, is a private equity firm with roughly $2 billion to invest exclusively within the health care sector. It most recently sold Peabody, Mass.-based portfolio company ConVerge Diagnostic Services LLC to Quest Diagnostics Inc. (NYSE: DGX) for an undisclosed price.