Avista Capital Partners has announced it has closed on the sale of Inform Diagnostics to Fulgent Genetics for approximately $170 million.
Inform Diagnostics, based in Irving, Texas, is an independent pathology laboratory business that has laboratories in Irving, Texas, as well as Boston, New York City and Phoenix.
Fulgent Genetics (NASDAQ: FLGT), based in Temple City, Calif., is a technology-based genetic testing company. Fulgent performs full-gene sequencing with deletion/duplication analysis in an array of panels.
Avista, based in New York, makes control buyout investments in middle market healthcare companies. Founded in 2005, the firm focuses on the following healthcare subsectors: pharmaceuticals, medical devices, outsourced pharmaceutical services, distribution and consumer-driven healthcare.