European healthcare investor GHO Capital has completed the acquisition of UK-based DNA Diagnostics Centre (DDC), from MTS Health Investors for €104m.
DDC provides private DNA testing services for paternity and other family relationships, forensics, cell line authentication and ancestry.
The platform technology of DDC provides products in the fields of biological family relationship testing, veterinary services, forensic services and medical applications for the pharmaceutical industry, including cell-line authentication.
DDC currently processes more than 750,000 tests every year in its facility, which is claimed to offer high-quality results, as well as better customer service.
GHO Capital executive partner Mike Mortimer said: "The field of genetic diagnostics is an attractive, high growth segment within healthcare and, as a well-established business with significant global potential, DDC is an excellent fit for GHO Capital's investment strategy.
"GHO Capital has a deep understanding of diagnostics and clinical laboratories which, combined with our European presence and international networks, provides strong foundations for our alliance with the DDC team."
DDC used robotics technology in its laboratory processes for effective handling of DNA samples. In order to produce better results, the company independently tests all DNA samples twice using its Dual Process.
With 245 employees, DDC has European operations in London, UK and Fairfield, Ohio in the US.
DNA Diagnostics Center president Peter Vitulli said: "With a leading platform and broad customer base, DDC has delivered double-digit growth in recent years and is poised for continued expansion in Europe and internationally.
"We have found a differentiated, specialist partner in GHO Capital and we look forward to working together on the next phase of DDC's continued growth."
In 2011, DDC acquired Orchid Cellmark's government paternity business. Orchid Cellmark offered parentage testing services to government agencies since 1979.
In this transaction, Robert W Baird served as the financial advisor, while Hogan Lovells provided legal counsel to DDC and MTS, respectively.