Pharos Capital Group has announced it has acquired a controlling position in TechLab.
Pharos is acquiring its stake from Alere and TechLab’s founders, who will remain with the company and maintain a minority investment. Terms of the transaction were not disclosed.
Pharos, with offices in Dallas and Nashville, considers a variety of investments in lower- and middle-market companies primarily in healthcare and business services.
Alere is a Waltham, Mass.-based maker of medical diagnostics products.
TechLab, based in Blacksburg, Va., develops and manufactures intestinal diagnostics.
Learn more about Pharos and other leading private equity firms that invest in healthcare here.