Great Point Partners (“GPP”), a Greenwich-based private investment firm focused exclusively on the health care industry, is pleased to announce that it has sold GPP III portfolio company, MLM Medical Labs (“MLM”), to Labcorp. MLM is a leading provider of global central and specialty lab services supporting clinical trials, biomarker testing, and drug development in the life sciences and biopharma industries.

Rohan Saikia, Managing Director at GPP, stated, “When we invested, we saw a science-led business with exceptional global commercial potential. Drawing on our network, we hired Scott Houlton as CEO, strengthened the finance and commercial teams, and built a world-class Board. With our sourcing team, we completed two strategic acquisitions in the United States and South Africa, giving the Company a truly global footprint and accelerating revenue growth.”

Bret Tenenhaus, Principal at GPP, commented, “Under our ownership, MLM quadrupled its revenue and EBITDA, expanded its geographic footprint from a single site in Germany to additional locations in the United States and South Africa, and strengthened its offerings to customers, all while preserving the culture and high-quality service instilled by MLM’s original scientific leaders. It was a genuine pleasure working with the MLM team.”

“Great Point's deep knowledge of pharmaceutical services, combined with their hands-on support at every stage of the tuck-in acquisition process, was instrumental in helping us scale into a high-growth global business,” said Scott Houlton, CEO of MLM. “The exceptional Board GPP assembled brought perspective that shaped our strategy. This is now my second successful partnership with GPP building a global life sciences services business – a collaboration that has been invaluable to our entire team.”

William Blair & Company served as financial advisor to MLM, and McDermott Will & Schulte served as MLM’s legal counsel.

ABOUT GREAT POINT PARTNERS

Great Point Partners, founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with 30 professionals, investing in the United States, Canada, and Europe. GPP is currently making new minority and majority private equity investments from GPP IV. Great Point manages approximately $1.7 billion of capital (including committed and uncalled capital) in its private funds and public life sciences equity strategy (BioMedical Value Fund). Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 growing health care companies. The private equity funds invest across all sectors of the health care industry with a particular emphasis on biopharmaceutical services and supplies, alternate site care, medical device contract manufacturing and information technology enabled businesses. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies.

ABOUT MLM MEDICAL LABS

MLM Medical Labs is an international central and specialty laboratory with dedicated, harmonized locations in Europe, North America, and Africa. With over 30 years of experience, MLM supports more than 300 clinical trials at any given time, offering a broad range of services including central lab testing, biomarker testing, assay development, kit building, and long-term sample management and storage. The company is headquartered in Mönchengladbach, Germany, with additional laboratories in Memphis, TN, and Pretoria, South Africa.

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