Baylor College of Medicine formed a joint venture between Medical Genetics Laboratories and Miraca Holdings
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that Baylor College of Medicine (“BCM”) has announced the formation of a joint venture between Medical Genetics Laboratories (“MGL” or the “Laboratory”) and Miraca Holdings Inc. (“Miraca”).
BCM, based in Houston, Texas, is a top-tier medical institution with the No. 1 National Institutes of Health-funded genetics program. Miraca, based in Japan, is an international healthcare company with a focus on clinical diagnostics and laboratory tests. BCM and Miraca have agreed on a joint venture in which BCM will share ownership and governance of its clinical genetics diagnostic laboratories. The total value of the transaction is just under $300 million. The transaction is subject to regulatory approvals and other customary closing conditions.
MGL is a leading provider of diagnostic testing services with a focus on clinically relevant, high-value genetic tests. With a 35-year presence in the diagnostic industry as part of a premier academic health science center, MGL has developed an outstanding reputation with physicians and hospitals worldwide. With tests ranging from cytogenetics to comparative genomic array analysis and next generation sequencing, MGL’s esoteric test offering is one of the most robust within its specialty testing segment. Located in Houston’s Texas Medical Center, MGL’s state-of-the-art laboratories have consistently released first-to-market testing technology, while exceeding industry benchmarks in accuracy and turnaround times.
Lincoln acted as the exclusive financial advisor to BCM, working closely with management throughout the sale process by assisting with preparing marketing materials, positioning the business to convey its value proposition, advising on negotiations, coordinating due diligence and supporting the process.
Dr. Paul Klotman, president, CEO and executive dean of BCM, said, “This partnership will bring together our top-ranked genetics program with a leading diagnostics company. The result will be an opportunity for tremendous growth of our clinical genetics testing program, while ensuring the quality of diagnostics to patients and healthcare providers on an international level.”
About Baylor College of Medicine
Founded in 1900, BCM is recognized as a top-tier medical school for research with $363 million in research support, more than 90 research and patient care centers and units, and over 3,000 students, residents and fellows. Located in Houston’s Texas Medical Center, BCM’s facilities comprise a 1,000-acre complex of 49 independent institutions and 26 departments. More information about BCM can be found at www.bcm.edu.
About Medical Genetics Laboratories
MGL is a leading provider of diagnostic testing services with a focus on clinically relevant, high-value genetic tests. MGL offers a broad range of testing from traditional cytogenetics to chromosomal microarray analysis and next generation sequencing. The laboratory is located in Houston’s Texas Medical Center with over 200 employees, over 3,000 tests available and clients in all 50 states and in 16 countries. MGL’s laboratory is well equipped with cutting-edge diagnostic equipment, allowing it to efficiently generate the most accurate clinical genetic data. More information about MGL can be found at www.bcm.edu/research/medical-genetics-labs.
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