The firm also announced that it will acquire pathology laboratory Inform Diagnostics for $170 million in cash.įulgent's revenues for the quarter ended March 31 are expected to be approximately $300 million. NEW YORK – Fulgent Genetics reported on Monday estimated preliminary first quarter revenues above prior guidance. Advances in Clinical Genomics Profiling.The company is headquartered in Irving, Texas, with additional state–of–the–art laboratories in Boston, New York City, and Phoenix. Inform Diagnostics is profoundly impacting patient care, one diagnosis at a time, by practicing medicine at the intersection of quality, service, and solutions. With exceptional quality and experience, Inform Diagnostics provides subspecialty pathologist–to–physician interaction with timely, definitive patient diagnoses in gastrointestinal pathology, dermatopathology, hematopathology, neuropathology, breast pathology, molecular diagnostics, and genitourinary pathology. Inform Diagnostics is one of the largest independent pathology laboratory businesses in the U.S. For more information, visit About Inform Diagnostics

Avista’s Operating Executives and Advisors are an integral part of the team, providing strategic insight, operational oversight and senior counsel, which helps drive growth and performance, while fostering sustainable businesses and creating long-term value for all stakeholders. Avista partners with businesses that feature strong management teams, stable cash flows and robust growth prospects – investing in the medical devices and technologies, pharmaceuticals, outsourced pharmaceutical services, healthcare technology, healthcare distribution, and consumer-driven healthcare sectors. Kirkland & Ellis served as legal counsel to Inform Diagnostics in connection with the transaction.įounded in 2005, Avista Capital is a leading New York-based private equity firm with nearly $8 billion invested in 40 growth-oriented healthcare businesses globally. Being acquired by Fulgent is an excellent outcome for our organization, allowing us to build upon the technologically driven initiatives started with Avista, and furthering our commitment to providing exceptional quality and service.” I am proud to have worked alongside a talented group of individuals, who not only believed in and invested in our technical innovation and continuous improvement, but also showed great care and concern for our employees, clients, and the patients we serve. It has been a privilege to work with Inform’s dedicated team and we are confident they will continue to thrive and deliver outstanding results as part of Fulgent’s platform.”ĭarryl Goss, Inform Diagnostics’ Chief Executive Officer, added, “Avista has been a true partner, guiding our strategic growth and supporting our organization, particularly as we navigated the challenges of the pandemic. Sriram Venkataraman, Avista Partner said, “Inform Diagnostics’ precision and laboratory excellence have earned the trust of clinicians and enhanced patient care. During Avista’s ownership period, Inform Diagnostics executed on a host of compelling corporate and growth initiatives, including the appointments of numerous senior team members, enhanced financial flexibility to drive corporate growth and strengthened compliance policies and procedures. Shortly thereafter, Inform Diagnostics grew its capabilities via the acquisition of Therapath, a leading neuropathology laboratory based in New York and the expansion of its Newton, Massachusetts facility.

In 2017, Avista’s Fund IV carved out Inform Diagnostics from Miraca Life Sciences and worked diligently with the newly recruited management team to create a successful standalone company.

Inform diagnostics