Superior Valuation Backed by Technology Infrastructure and Established Client Network
CHICAGO — Auctus Capital Partners is pleased to announce its role as exclusive advisor to GoPath Laboratories, providing valuation and strategic advisory services, and supporting the multi-specialty pathology laboratory in securing a senior-secured financing package from Signature Bank. The transaction was led by Auctus and its Vice President Ovais Siddiqui.
GoPath Laboratories is a state-of-the-art molecular diagnostic technology company providing anatomic pathology, hematopathology, and hereditary cancer testing for clinicians, hospital systems, and pharmaceutical firms. Its laboratory incorporates the latest technologies into testing platforms including next-generation sequencing, cytogenetics, FISH, IHC, microarray analysis, and ddPCR to provide better-defined diagnosis, personalized treatment options, risk prediction for cancer recurrence, and stratified immunoresponse in pharmaceutical research.
“We are delighted to have GoPath Laboratories as our client and excited to continue working collaboratively with its committed management team,” said Muhammad Azfar, CEO and Managing Partner of Auctus Capital Partners. “The company is well-positioned for continued growth with the rising incidence of infectious diseases — including COVD-19 testing, which GoPath offers with 24-48 hour results — and cancer increasing the demand for innovations in diagnostic techniques that are more precise, accurate, and efficient.”
Since the company’s inception in 2012, GoPath Laboratories has experienced exponential growth through comprehensive diagnostic services and a continued focus on services, education, and innovation by incorporating the latest technology into testing platforms. Its GoPathConnectTM connects lab tests and results in real-time from any location with a wide range of ordering and retrieval methods, as well as cloud-based solutions. Over the years, the company has also forged successful partnerships with key industry leaders and critical oncology client relationships, working with health systems, cancer, gastrointestinal, and genitourinary clinics, as well as major pharmaceutical companies, such as Stanford Medicine, NorthShore University HealthSystem, Astellas, Pfizer, and Takeda.
“The pathology lab industry is highly fragmented and while almost 46% of hospitals have an in-house pathology lab, they are not able to deliver comprehensive services at a reasonable cost,” Siddiqui said. “GoPath has established itself as a one-stop, full-service pathology reference laboratory that is able to cater to hospitals in a highly cost-efficient manner. Such capabilities with an effective deployment of technology support greater valuation in markets poised for growth — including the global molecular diagnostics market forecasted to increase 8.9% and anatomic pathology market to increase 4% by 2025.”
Working closely with GoPath Laboratories, Auctus Capital Partners helped the company secure a financing package from Signature Bank. The transaction enables the client to pursue new growth and enhance its go-to market strategy for innovation and technologies that will lead advancements in tracking early signs of cancer recurrence.
“We value our relationship with Auctus Capital Partners and its dedicated team of advisors that helped guide us through this transaction that will enable our future growth,” said Jim Lu, M.D., Ph.D., founder, CEO and Medical Director for GoPath Laboratories.
For more information, visit http://www.gopathlabs.com/.
About Auctus Capital Partners
Auctus Capital Partners is a leading financial services and investment banking firm focused exclusively on creating value for the lower middle market. We specialize in merger & acquisition advisory, institutional private placements of debt and equity, financial restructuring, valuation, and strategic consulting. Our senior bankers have deep domain expertise across a range of industries, with the necessary foresight to navigate highly-complex transactions to maximize value and achieve optimal outcomes for clients.
About GoPath Laboratories
GoPath Laboratories is a state-of-the-art CAP-accredited, CLIA-certified molecular diagnostic laboratory providing anatomic pathology, hematopathology, and hereditary cancer testing for clinicians, hospital systems, and pharmaceutical firms. Located just north of Chicago, the company incorporates the latest technologies into its testing platforms including next-generation sequencing, cytogenetics, FISH, IHC, microarray analysis, and ddPCR. GoPath specializes in cancer diagnostics through our OncoTarget NGS-based testing series, which includes solid tumor and liquid biopsy analysis to detect and monitor a cancers genetic mutations. It also offers a wide-range of hereditary cancer testing through our GeneticsNow platform including BRCANow for familial breast, ovarian and prostate cancer and LynchNowfor the hard-to-detect Lynch syndrome.
About Signature Bank
Signature Bank is a relationship-based commercial bank wholly owned by Signature Bancorporation, Inc., a privately funded, locally owned bank holding company founded in 2006. Headquartered in Rosemont, IL, Signature Bank provides accessible, strategic, and highly individualized commercial banking services to closely held companies, as well as full-service retail banking capabilities. Technology driven and well-capitalized, Signature Bank is currently the fastest growing, independently owned business bank in the Chicagoland area. Visit Signature Bank online at http://www.SignatureBank.bank.